Business Rates exemption for new builds
If your business property is new or altered and unoccupied you may be exempt from paying Business Rates for up to three months.
When a new property should pay Business Rates
A new or altered property should pay Business Rates when either:
- a completion notice is issued
- it becomes occupied
Business Rates exemption
If the property is unoccupied you could be exempt from paying Business Rates. Commercial properties like shops or offices are exempt for three months and industrial properties for six months. The exemption ends once it is occupied, unless it is occupied for less than six weeks.
Here are two examples of properties which would be exempt:
- A new industrial property is completed on 1 May but is unoccupied until 1 December. From 1 May to 31 October it would be exempt because it is unoccupied. After 1 November full Business Rates would be charged.
- A new commercial property is completed on 1 May but is unoccupied until 1 December. From 1 May to 31 July it would be exempt because it is unoccupied. After 1 August full Business Rates would be charged.