It is a disincentive for the nation and persons to invest in property and revive the market
At the current time Council Tax is charged on empty property after the property has been un occupied for six months – subject to a couple of exceptions. This is a flawed Law based on flawed logic.
Where did the last Government feel that the “income” was going to come from to pay the Council Tax?
If the property is part of a large portfolio then maybe some of the rental income from other property will support the empty property but this means there will be less Corporation Tax paid on the bulk of the Portfolio.
If on the other hand the property is the only “buy to let” property owned by an individual in an effort to “save” for a pension where is the income going to come from to pay this tax? It will come from the “taxed” salary of the owner as he has no tenant to pay the Council Tax. This is such a disincentive to his efforts to save he will get out of the market as soon as he can. We try to help ourselves and the nation and we are beaten over the head at every turn.
Burn this mad tax now.