INDUSTRY NEWS

Bond studio fights govt commercial property tax

The studio that helped produce the latest James Bond movie has complained against the government’s empty commercial property tax, Property Wire has reported.

Columbia Pictures Corporation has joined other major companies in sending an open letter to Whitehall in protest at the charge, which they consider unfair.

The current dispute is led by the British Property Federation (BPF). Its chief executive Liz Pierce has said the tax is “like making the unemployed pay income tax”.

“Taxing hardship and business failure is a ludicrous way to help people through the hard times. Brown must act now to undo this mess.”

Under new legislation, commercial property owners have lost their business rate relief on empty buildings, which has increased their costs.

Their claim to have the law repealed is backed by shadow business secretary, Alan Duncan.

In a post on his blog, the minister wrote: “It is taking money from people who have not got it to the point they have to take the roof off or demolish what they have just built.”ADNFCR-1329-ID-18874059-ADNFCR

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