Posted on: 23 May 2016
Whether you decide to take a lease or to buy a property, you will have a range of additional costs to cover and consider:
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Service Charges |
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Business Rates |
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Capital Allowance |
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Look at the Gov Capital Allowances website or speak to a Capital Allowance Specialist to find out which relief you may be eligible for. |
Stamp Duty Land Tax |
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You can use the HM Revenue Stamp Duty Land Tax calculator to estimate your tax. Or use the Revenue Scotland calculator for LBTT (Land and Building Transaction Tax) |
Professional Fees |
You should consider the fees and charges for any professional guidance that you receive throughout the process of changing business premises. |
For example solicitors, surveyors and estate agents will likely charge an agreed percentage, this would depend on the complexity and skills required to complete the acquisitions. |
VAT |
The sale or lease of a commercial property is usually exempt from VAT. However, commercial property owners can opt to charge VAT (also known as ‘Option to Tax’) at the standard rate – currently 20%. |
VAT in relation to commercial property is generally a complex area; you should seek advice from your solicitor. |
Fit Out Costs |
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Deposits |
Whether you are buying or renting a commercial property, you must remember that you will be required to put down an initial deposit on the building. |
Make sure that you factor this into your business finance plans from the moment that you decide you want to move premises. Deposits vary from premises to premises but must be considered from the outset. |
View our full business premises guide here or browse through the content below to learn more.
- Making the decision to move premises
- Taking a business lease
- Taking a business licence
- Buying business premises
- Finding the right premises
- Building surveys for business premises
- Planning permission for business premises
- Business premises insurance
- Additional costs of business premises (You are here)
- Making an offer on business premises
- Moving business premises
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