44 property


Important business rates changes and opportunities to make savings


Ignore explanatory notes accompanying 2014/15 rates demands at your peril, warns Linda Staker, partner, Vail Williams LLP


These demands were accompanied by more extensive explanatory notes than ever before but few financial directors or even accounts personnel would have had the time, let alone the inclination, to wade through these notes and in most cases they would have been completely ignored.


For businesses which do not retain the services of pro-active, specialist rating advisers, such as Vail Williams, they are likely to have missed important notifications about the positive changes found subtly reported in the notes section.


One of the most fundamental changes with the widest potential benefit is the fact that from April 1, 2014 businesses can now elect to pay their rates bills in 12 monthly instalments rather than the previous 10, which has obvious


cashflow advantages for businesses of all sizes. Instead of this being an automatic change however, the ratepayer is required to contact the non-domestic rating department at each local authority from which it receives a rates demand. It is now too late to benefit from the full 12 payments in the 2014/15 rates year but businesses should make the election as, once made, payments for this year can be spread over the remaining 11 months and future years’ rates bills will then automatically be spread over 12 instalments.


Several new reliefs have been introduced including 100% relief for up to 18 months for new commercial properties completed before September 30, 2016 which will encourage developers to start building speculatively again; 50% relief for 18 months where


The enhanced level of Small Business Rate Relief (SBRR) has been extended again for a further year through to March 31, 2015. In order to support the growth of small businesses, from April 1, 2014 there has also been a relaxation of the qualifying conditions and where businesses take on an additional property they can now continue to benefit from SBRR for a period of 12 months instead of losing this immediately.


Without taking the advice of a business rates expert it can be easy to miss out on these new reliefs.


For more business rates help and advice contact one of our rating specialists.


former retail premises which have been vacant for a year or more are occupied by March 31, 2016, regardless of the use following re- occupation; discounts over the next 2 rates years for retail properties with a rateable value of £50,000 or less; and relief for flood affected premises. Sadly, many of these reliefs are not being claimed as ratepayers remain oblivious to their existence.


Protecting commercial properties from


unwelcome guests Recent amendments to legislation have made squatting in unoccupied residential buildings in England and Wales a criminal offence, writes Dominic Preist, regional sales manager of consultants Jelf


Although good news for residential landlords, it means that unoccupied commercial premises are at greater risk of being targeted.


Research by Aviva suggests £2 billion of damage is done to property in the UK through vandalism and arson, a quarter of which relates to empty properties. And while this is not solely down to squatters, they still pose a significant threat.


Vacant buildings can also be prone to theft especially when located in isolated areas such as business parks. Thieves are being increasingly bold with practices including the use of fake telecommunication vans or high visibility jackets and branded builders vehicles to give an air of legitimacy whilst metal is stripped out in plain sight. Criminals will think nothing of the implications of ripping out pipes and tearing off roofing sheets, with the unfortunate property owners left with costly bills.


www.businessmag.co.uk


In addition, vital services are often disabled and there can be property owners’ liability issues if premises are rendered unsafe. By definition, commercial properties are not designed to be lived in. Yet while it is the decision made by squatters to set up camp in rooms where desks or machinery once stood, the landlord has a duty to ensure the safety of those inside.


Keeping intruders at bay


• Shut down all utilities. If the building is being refurbished, remove the fuse board. Also drain the water systems to avoid flooding.


• Alarm the building with a temporary wireless alarm with integral video transmission that is monitored. The video will filter out false alarms and provide hard evidence in court.


• Fit steel security fittings to


windows and doors and ensure there is no roof access – squatters claim legal rights by entering open or previously vandalised entry points without forcing entry.


• Secure the perimeter of the property by installing fencing to protect driveways and car parks.


• Clear the property, ensuring all combustibles (eg chairs and upholstery) are removed.


• Install a letter box seal to prevent uninvited guests setting fire to the property. Also remove mail on a regular basis.


• Consider using dog patrols.


• Instigate a minimum weekly inspection of the property.


Currently costly and time consuming civil procedures remain the only course of action available to property owners when trying to evict squatters. It is therefore


THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2014


For more information about Vail Williams LLP, please visit www. vailwilliams.com.


Details: Linda Staker 0118-9097447 lstaker@vailwilliams.com www.vailwilliams.com


vital to take all the necessary and immediate steps to ensure buildings are adequately protected, have the right insurance and the correct level of legal expenses cover in place to protect against crime, malicious damage and injury.


Jelf Insurance Brokers specialises in providing insurance solutions for property professionals. Over many years our specialist property team has gained a wealth of experience and knowledge, and we understand the needs of the property insurance market. If you have any questions, or would like to discuss the implications of this information in relation to your property contact Dominic Preist.


Source: Aviva Property View Magazine, 4th edition


Details: Dominic Preist 0118-9839800 dominic.preist@@jelfgroup.com


Jelf Insurance Brokers is authorised and regulated by the financial conduct authority (FCA). Not all products and services are regulated by the FCA. JIB154-05.14


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52