19th December 2008
Commercial property investors need all the help they can get to survive the credit crunch but the government's empty property tax reprieve means that many will be "kicked while they are down", an expert has said.

Commenting on the empty property tax reprieve announced in the pre-Budget report last month, David Parker, national head of rating at Savills said it "doesn't go anywhere near addressing the problem that we are facing".

"Firstly, it's only for one year and that is very disappointing, and secondly, it's only for the smallest properties," he said. "It will help the small businesses but it doesn't do enough or cover enough people."

The tax reprieve announced by the chancellor exempts empty commercial properties with a rental value of below £15,000 from paying business rates.

According to Mr Parker, it is the very small properties that will benefit and within London, "you're looking at the odd sort of lock-up garage and that kind of thing".



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