{"id":411,"date":"2017-07-26T13:29:47","date_gmt":"2017-07-26T19:29:47","guid":{"rendered":"https:\/\/www.lee-associates.com\/idaho-dev\/?p=411"},"modified":"2017-07-26T09:34:17","modified_gmt":"2017-07-26T15:34:17","slug":"uk-business-rates-and-what-it-means-to-cre","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/idaho\/2017\/07\/26\/uk-business-rates-and-what-it-means-to-cre\/","title":{"rendered":"UK Business Rates and What it Means to CRE"},"content":{"rendered":"<p>The UK has a long-established regime of real estate occupation tax, known as \u201cbusiness rates.\u201d\u00a0 Although not unique with many similar systems globally including the US, it represents by far the largest comparable tax burden.\u00a0\u00a0 Given the onerous amounts involved, which are generally around 50% of market rents but in many cases, much more, it has become a highly political and contentious issue of great importance to commercial real estate occupiers and owners.<\/p>\n<p>All non-domestic properties, including offices, retail and industrial units, are valued on a five-year cycle by an independent Government department called the Valuation Office Agency.\u00a0 For most standard premises, these valuations are based on market rental evidence at a fixed valuation date, 2 years prior to the start of the effective date of those tax assessments.\u00a0\u00a0 Where a property type has no rental market, such as hospitals, airports, hotels or oil refineries, alternative valuation methods are used based on turnover or replacement cost.<\/p>\n<p>There are around two million assessments across the UK, generating over \u00a326 billion annual tax income for the Government.<\/p>\n<p>This post originally appeared on the Link By Lee blog.<br \/>\n<a href=\"http:\/\/www.linkbylee.com\/uk-business-rates-and-what-it-means-to-cre\/\"><span style=\"color: #800000\"><strong>Click Here For Full Article &amp; Other Link By Lee Posts<\/strong><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK has a long-established regime of real estate occupation tax, known as \u201cbusiness rates.\u201d\u00a0 Although not unique with many similar systems globally including the US, it represents by far the largest comparable tax burden.\u00a0\u00a0 Given the onerous amounts involved, which are generally around 50% of market rents but in many cases, much more, it has become a highly political and contentious issue of great importance to commercial real estate occupiers and owners. All non-domestic&#8230;<\/p>\n","protected":false},"author":33,"featured_media":412,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>UK Business Rates and What it Means to CRE - Lee &amp; Associates Idaho, LLC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/idaho\/2017\/07\/26\/uk-business-rates-and-what-it-means-to-cre\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Business Rates and What it Means to CRE\" \/>\n<meta property=\"og:description\" content=\"The UK has a long-established regime of real estate occupation tax, known as \u201cbusiness rates.\u201d\u00a0 Although not unique with many similar systems globally including the US, it represents by far the largest comparable tax burden.\u00a0\u00a0 Given the onerous amounts involved, which are generally around 50% of market rents but in many cases, much more, it has become a highly political and contentious issue of great importance to commercial real estate occupiers and owners. 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