Our aim is to deliver and to inform existing restaurateurs by offering some useful information to assist in your evaluation of a business. There are subtle differences in the law of Scotland and England and therefore some basic knowledge will help when speaking with professional advisors, North of the Border.
Land and Buildings Transaction Tax (LBTT)
For non-residential property transactions, the rate of tax is determined in the same manner as for residential properties but by reference to different rates and bands:
- See http://www.gov.scot/Topics/Government/Finance/scottishapproach/lbtt/lbttnonresidentialcalculator
- See http://www.gov.scot/Topics/Government/Finance/scottishapproach/lbtt/lbttleasecalculator
Rates Advice (Scotland)
The Scottish Assessors Association (SAA) will be able to provide you with up to the minute information on existing Rateable Values of Commercial Property in all regions throughout Scotland. Bear in mind the Rateable Value is not the Rates Payable, the poundage figure is set each year by the local authority and is usually around half of the Rateable Value figure quoted and in some instances for smaller businesses no rates payable at all.
2017 was a revaluation year and this website will provide information on new rateable values for existing tenants and landlords together with details of the appeal process.
- See www.saa.gov.uk
Energy Performance Certificates
Otherwise known as (EPC’s) Energy Performance Certificates are required under EU law to be provided and or displayed within public buildings. The objective is to provide a Carbon Dioxide (CO2) rating referring to emissions from that space. It is now a statutory requirement for every commercial property to have an Energy Performance Certificate or Rating before the business or property is marketed.
Nearly every commercial property requires one and once issued is valid for 10 years. If linking to website below and instructing their services please mention The Restaurant Agency for preferred rates.
We have at present 2 preferred Energy Performance Certificate providers we recommend.
EPC Options Ltd
Operated by Iain Hossack (PHD cEnv MIEnvSc). For further information and a quote email email@example.com or contact 07988 877205