Empty rates: how we can solve this blight on the property industry

摘要

Sir, PK Shadbolt is right about the rating system (letters, 14.01.11). It needs changing. Why does a landlord pay a tax on unlet space? If you are unemployed, you do not pay tax on a salary you might earn. In addition, as someone who only acts on behalf of occupiers, I have noticed one key complaint from my clients: rates payable are too high. For example, an occupier who wanted a Mayfair address and took premises on Maddox Street in 2003/04 is now likely to be paying ￡60/sq ft since review in 2008 and ￡20-￡30/sq ft in rates payable today.