Slowing economy forces increase in empty buildings tax expenses
Landlords are having to dig deep and fork out for empty buildings tax because of worsening occupancy rates.
That's according to NB Real Estate, which calculated that the percentage of unlet commercial property has risen by almost a quarter (22%) over the last two years to March 2008.
The Financial Times reported that the empty buildings tax was due to bring in £950 million a year for the Treasury, but the rise in empty buildings calculated by NB Real Estate means the Treasury can expect a further windfall of £142.5 million.
