London Clancy news article Rating Revaluation 2010

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Rating Revaluation 2010

December 2009 Update

Fri, 18 Dec 2009 11:27:36 +0000

The Department for Communities and Local Government have confirmed the Uniform Business Rates [UBR] for England, Scotland and Wales to take effect from 1st April next year and also the Transitional Arrangements for England following the 2010 revaluation.

Uniform Business Rate

The basic Uniform Business Rate for England will be reduced from 48.1p in the pound to 40.7p in the pound as from 1st April 2010, whereas the Small Business Relief UBR supplement, applicable to premises with a rateable value in excess of £18,000 (£25,500 in London) increases to 0.7p in the pound. The City of London UBR supplement and London UBR supplement for properties with a rateable value in excess of £50,000 have both yet to be confirmed but the latest estimates remain 0.4p in the pound and 0.2p in the pound respectively.

The UBR in Wales will be 40.9p in the pound as from 1st April 2010 and in Scotland the basic UBR will be 40.7p in the pound and the Small Business Rate UBR 0.7p in the pound.

Transitional Arrangements

The maximum increases and decreases in rates payable in England over the next five years have been confirmed as follows: -

Large Property - Rateable value of £18,000 and over (£25,500 and over in London).
Year                     2010/11    2011/12      2012/13    2013/14    2014/15
Max increase      12.5%   17.5%      20%       25%           25%
Max decrease     -4.6%      -6.7%          -7%          -13%        -13%

Small Property - Rateable value below £18,000 (£25,500 in London).
Year 2010/11     2011/12      2012/13    2013/14    2014/15
Max increase    5%            7.5%          10%         15%           15%
Max decrease     -20%          -30%       -35%    -55%          -55%

All of the above percentages are in real terms and therefore before an adjustment for inflation. The inflation rate for 2010/11 calculations is -1.4%.

The transitional arrangements in Scotland have yet to be confirmed and we understand there is no intention to reintroduce transitional arrangements in Wales.

Small Business Relief Scheme

The DCLG have confirmed that as from 2010 the Business Rate Relief Scheme will offer relief at 50% for qualifying businesses with a rateable value of under £6,000, declining on a sliding scale to 0% relief at a rateable value of £12,000.

For further information and assistance in calculating your rates liability as from 1st April 2010 and advice on appealing your rateable values please contact

• James Gibb – 01276 682055 – jamesgibb@londonclancy.co.uk
• Mark Clancy – 01256 480917 – markclancy@londonclancy.co.uk
• Chris Ridge – 02380 330442 – chrisridge@londonclancy.co.uk

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