Due to the considerable cost of business rates liability, vacant commercial properties, and spaces within them, can become a major financial strain for some companies. As a result, there are various business rates mitigation schemes available for property owners that promise to alleviate these substantial fees.
Recently, certain legal rulings have resulted in some of these schemes now becoming unviable. Previously, the two main schemes that companies have been taking advantage of are Liquidation and Live-In Guardian schemes, however, courts have now led to these strategies being ruled unlawful.
It’s best to check what support is on offer by visiting your local Government website, where you can find advice on business rates relief: Business rates relief – GOV.UK (www.gov.uk)