http://news.bbc.co.uk/1/hi/business/7582473.stm
Buildings are being knocked down as businesses seek to avoid paying tax on empty properties, a government regeneration chief has warned.
In April, the government scrapped rate relief on empty industrial property such as warehouses.
The tax was aimed at landlords who kept premises empty in hope of better rents.
But John Nicholls, chief executive of the Urban Regeneration Companies, said the tax was leading to "pre-emptive demolitions" to avoid the tax bill.
"As well as the problem of pre-emptive demolitions, it's having an effect on supply of new property," Mr Nicholls said.
If you can't sell it, raze it to the ground!
Buildings are being knocked down as businesses seek to avoid paying tax on empty properties, a government regeneration chief has warned.
In April, the government scrapped rate relief on empty industrial property such as warehouses.
The tax was aimed at landlords who kept premises empty in hope of better rents.
But John Nicholls, chief executive of the Urban Regeneration Companies, said the tax was leading to "pre-emptive demolitions" to avoid the tax bill.
"As well as the problem of pre-emptive demolitions, it's having an effect on supply of new property," Mr Nicholls said.
If you can't sell it, raze it to the ground!
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