Good News for small business in Greater London!
In March 2016, the Government published its consultation on compulsory purchase order reforms (a copy can be found here).
Owner-occupiers of business premises are able to serve blight notices provided the annual rateable value of their premises does not exceed a prescribed limit.
On 21st April 2017, The Town and Country Planning (Blight Provisions) (England) Order 2017 (SI 2017 No.472) came into effect, taking forward the proposal to set a higher rateable value limit for small businesses in Greater London when the limit is next to be revised as a result of the 2017 rating revaluation.
The Order raises the current limit of £34,800 to £36,000 in England excluding Greater London and £44,200 in Greater London to take account of the rating revaluation for 2017.
The rateable value limit also has the following uses:-
1. It sets the threshold for making claims for compensation for depreciation in the value of property caused by the physical effects (e.g. noise, vibration, dust) of public works under Part 1 of the Land Compensation Act 1973.
2. It sets the threshold under section 46 of the 1973 Act, for proprietors aged sixty or over to claim disturbance on the basis of total extinguishment of their business rather than for relocation if they are subject to a compulsory purchase order.
For more information see our guide on:
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