| Extension
to the Business Rates 'Holiday' for Small Businesses
In
the 2011 budget, the Chancellor of the Exchequer announced
that the Government will extend the temporary increase in
the level of SBRR so that eligible ratepayers will pay no
rates on properties with rateable values up to £6,000,
with a tapered relief between 100% and 0% for properties with
rateable values between £6,001 and £12,000.
The
new levels of relief will now be available for 24 months from
1 October 2010 to 30 September 2012.
Reduction
in the Empty Property Relief Threshold increases rates payable
The
threshold under which rates are not payable on empty properties,
has been reduced for 2011/12 to RV 2,600. Therefore, many
owners of empty properties that were exempt last year will
now be liable for full rates.
2011/12
Multipliers
The
English non domestic rating multiplier for 2011/12:
The
Small Business Non Domestic Rating Multiplier for 2011/12
has been confirmed as
0.426
The supplement
to fund SBRR will be 0.007 therefore the Non Domestic Rating
Multiplier for 2011/12 is:
0.433
For
advice on this and all rating matters please contact
us
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