Bootle points out that property represents 17% of the UK's national tangible assets at £500 billion ($760 billion). Yet many major companies have not discussed property at board level for three years, while tax and legal strategy receive more attention. However he says that British business property is much more highly taxed compared with the UK's main trading partners including the US, Germany and France. The annual tax take from property in the UK is £15 billion, or 1.8% of GDP, compared with just 0.3% in Germany.
Bootle will draw on research by Marion Weatherhead, partner at cost consultant Gardiner & Theobald. She said: 'Getting property strategy right is not easy, but for many businesses it can mean the difference between make and break, especially in a downturn. It is staggering how little attention is paid to property, which is typically the biggest business overhead after staff costs.'
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