Landlords pay over £1bn in empty property tax
The report revealed a 19% increase in tax revenue in the year since the introduction of limits as revenue reached £1.1bn.
Simon Alderson, commercial director for Vacant Property Specialists, said: “The recession has hit retailing and commercial companies both small and large.
“We have already seen some major names disappear from our high streets this year and this report can only underline the seriousness of the challenges those that remain face.”
Just last month VPS highlighted a ten-fold increase in high street closures.
The TPA report was compiled by Freedom of Information Act requests and lists the non-domestic business rates levied on empty properties by local authorities across the whole of the UK.