Purchasing commercial property at auction (as opposed to the open market) can seem like an enticing opportunity and an effective way to secure a good deal, fast. With this acknowledged, auction purchases do not come without their risks, and it is vital for any purchaser to have a solid understanding of the potential pitfalls before proceeding with ...
Business rates – or non-domestic rates as they are also known – are a tax levied on shops, bars, restaurants, offices and other commercial properties to pay towards Local Council services such as education, social care and waste management, to name a few. Liability for such ‘rates’ initially rests with the property owner, however it is usually passed on to the tenant under a commercial lease.
