'Many sectors' affected by empty property tax - commercial mortgages

15 May 2009

The reasons for implementing an empty property tax in the UK have been questioned.

People with commercial mortgages are affected by the levy because it is the commercial property market and the wider economy which could be damaged by the legislation, according to British Property Federation (BPF) spokesperson Andrew Teacher.

Even though Lord Mandelson has made the commitment to help companies through a challenging economic climate, the "short-sighted tax grab is simply akin to making the unemployed pay income tax", the BPF representative said.

Mr Teacher suggested that various areas and industries are affected,and gave the example of "local councils having to pay rates on their own buildings" and "people who have perhaps invested in a property to fund their retirement".

It is often argued that small businesses in the UK are held back by red-tape, and this is an issue that organisations such as the Federation of Small Businesses are trying to improve.

Find out more on our commercial mortgages and how we can help you achieve your aims - enquire online.