Cooke & Arkwright
Rating News
Empty Rates harming development in Wales
03/09/08
Amid mounting concern about the damaging effect that the abolition of rates relief on empty property is having on business in Wales, representatives from the property industry and CBI Wales are lobbying the Welsh Assembly Government to consider introducing reforms. The Assembly has regulatory powers to adjust the rate of empty property relief back to any amount between 0% and 50%.
Empty Property Rates kick in
02/04/08
From April 1st 2008, with a few exceptions, all unoccupied commercial property in England and Wales became liable to 100% business rates due to the abolition of empty property rate (EPR) relief, first introduced almost 30 years ago. In addition, the commencement of the exemption period has been set retrospectively, meaning that anyone with a property that has been empty for more than six months for industrial, or three months for all other commercial property, becomes liable to full rates with immediate effect.
Empty property rates shock, by Andrew West, Director Cooke & Arkwright
31/05/07
The Chancellor’s completely unexpected announcement in the last Budget to remove rate relief on empty commercial premises has rung alarm bells throughout the property industry. Unless the Welsh Assembly Government decides it shouldn’t apply in Wales, under his proposals it will be abolished from 1st April 2008. The Rating (Empty Properties) Bill has already received its first reading and is scheduled for a second reading in the House of Commons in June.
Cardiff Bay Barrage
29/06/05
Cooke & Arkwright has successfully persuaded the Valuation Officer that Cardiff Bay Barrage should not be subject to the normal rate burden, effectively saving Cardiff Harbour Authority around £2.6m over the 10 year period covered by the 2000 and 2005 rating lists. The Authority has been refunded, with interest, the rates paid from 2000 to 2005 and has been awarded a nil rating for the 2005 list.