When it comes to owning and managing a listed building, there are a unique set of challenges that come with the territory. Not only are owners responsible for maintaining the historical integrity of the property, but they also have to navigate the world of business rates. In many cases, owners of listed buildings find themselves facing steep business rates on top of the already high costs associated with upkeep and maintenance.
The issue of business rates on empty listed buildings is a contentious one, with many owners feeling that they are unfairly penalized for owning a property with historical significance. However, it is important to understand the reasons behind these rates and how owners can potentially lower them.
Listed buildings are properties that have been designated as having special architectural or historic interest. These buildings are protected by law, meaning that owners must adhere to strict regulations when it comes to making alterations or renovations. While owning a listed building can come with prestige and a sense of pride, it also comes with a hefty financial burden.
One of the biggest challenges that owners of listed buildings face is the issue of business rates. Business rates are taxes that are levied on non-domestic properties, including commercial buildings, shops, and offices. These rates are based on the rateable value of the property, which is determined by the Valuation Office Agency (VOA).
When it comes to empty listed buildings, owners are often hit with higher business rates compared to other types of commercial properties. This is due to the fact that listed buildings are often more expensive to maintain and repair, making them less desirable to potential tenants. As a result, owners are left with empty properties that are costing them a significant amount of money in business rates.
It is important to note that business rates are a necessary source of revenue for local councils, as they help fund essential services such as schools, roads, and public transportation. However, many owners of empty listed buildings feel that they are being unfairly targeted and penalized for owning a property with historical significance.
So, what can owners of empty listed buildings do to lower their business rates? One potential option is to apply for business rates relief. There are various forms of relief available, including small business rates relief, charitable rates relief, and rural rate relief. Owners should contact their local council to see if they are eligible for any of these relief schemes.
Another option for owners of empty listed buildings is to consider leasing their property to a charitable organization. Charitable organizations are often eligible for 80% mandatory relief on business rates, making them an attractive option for owners looking to lower their rates. By leasing their property to a charitable organization, owners can not only save money on business rates but also support a worthy cause.
Owners of empty listed buildings can also apply for Listed Building Consent in order to make alterations or improvements to their property. By obtaining Listed Building Consent, owners can potentially increase the rateable value of their property, which may result in lower business rates. However, it is important to note that any alterations must be in line with the regulations set out by Historic England in order to maintain the historical integrity of the building.
In conclusion, owning and managing an empty listed building comes with its own set of challenges, including the issue of high business rates. However, by exploring all available options for relief and considering leasing to charitable organizations, owners can potentially lower their rates and bring their historic properties back to life. Ultimately, it is important for owners to work closely with their local council and seek professional advice in order to navigate the complex world of business rates on empty listed buildings.