Article DetailsDemolition Facing Empty UK Pubs |
| Date Added: April 28, 2009 08:53:43 AM |
| Author: Ian Brown |
| Category: Real Estate Press Releases |
| The confirmation in last weeks budget that there would be no increase in the tax relief rate period on empty business properties could see the demolition of many traditional pubs. The only concession for landlords of industrial and commercial spaces in the budget was that empty property with a rateable value of £15,000 or less will be excused from paying the empty building rates until March 31 next year.Before April 1 last year, empty pubs, offices and shops received 50 per cent tax relief. They now have to pay the full amount when a property is empty for more than three months. Landlords of industrial space have to pay full rates after six months' grace whereas previously they had full relief.While this may not directly affect the Publican, the pubcos who will have to pay this extra tax hike will have to pass the cost on or make savings somewhere else; redundancies; increase in rents for the publican; a further rise in the price of beer. But perhaps the worst scenario will be the demolition on old UK traditional pubs. This is a far greater threat to the traditional UK Pub than a hike in beer tax or any conversion to a takeaway. Paramount Investments are specialists in sourcing freehold and leasehold pubs for sale and other pub company or brewery investment opportunities in England, Scotland and Wales for potential property investors.
Paramount Investments 150 West End Lane Web: http://www.paramount-investments.co.uk |
