Every Friday we aim to post an answer to a FAQ about mortgages, tax, investments, money matters, business or retirement. You can have your say too. Send an email with your FAQ to [email protected]
This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. The Financial Conduct Authority does not regulate tax advice.
Q. How much Council Tax do you pay on an empty property?
Answer: One of the surprising announcements that the Chancellor, Philip Hammond made in his Budget speech on 22nd November was that he was giving local authorities the power to charge a premium of 100% Council Tax charge on empty properties.
The move comes as the number of empty homes reaches its highest level for 20 years.
There are currently around 200,000 homes standing empty. The majority of these are second homes and properties that are standing empty in between lets.
If you are a doctor or dentist who has properties held under a property portfolio, you may find that you will have to pay 100% Council Tax charge instead of the 50%, that was in place prior to the Budget announcement.