|  News
and Information from ASR - February 2007
Multipliers for the Rate Year 2007/08.
The
third year of the 2005 Rating List is almost upon us and the
provisional multipliers for England for the year commencing
April 2007 announced in November have now been confirmed by
the Department of Communities and Local Government.
The
Small Business Non Domestic Rating Multiplier will be increased
in line with inflation, from 0.426 to 0.441
The
supplement for the contribution to SBRR (Small Business Rate
Relief) will be reduced from 0.007 to 0.003, making the
Non Domestic Rating Multiplier 0.444
The
reduction in the supplement means that the overall increase
for a business not receiving SBRR or transitional relief will
be around 2.5% - i.e. an increase below the rate of inflation
(3.6%)
Wales
The
Welsh multiplier will be increased in line with inflation
from 0.432 to 0.448
There
will also be a Small Business Rate Relief scheme which will
replace the temporary rural rate relief scheme. It will automatically
be applied to rates bills without businesses needing to apply.
Businesses
in Wales with a rateable value of under £2,000 will
receive 50% relief
Businesses with a rateable value between £2,000-£4,999
will receive 25% relief
Post offices with a rateable value of less than £9,000
will be exempt from paying business rates
Post offices with a rateable value between £9,000-£11,999
will receive 50% relief.
Scotland
The
plan to bring the Scottish multiplier into line with the English
multiplier, announced by the Scottish Executive last year,
will mean that in Scotland the multiplier will be 0.441
with a supplement of 0.003 (a reduction from last years figure of 0.004) for those properties with an RV
(Rateable Value) over 29,000
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Adrian
Smith is a Rating Surveyor with over 25 years experience
in representing and advising ratepayers. He has an in
depth knowledge from both sides of the fence as he has
spent much of his working life with the Valuation Office
Agency as well as representing private sector business
and acting as consultant to professional
property firms.
He
has the knowledge, experience and technical expertise
to advise on all aspects of rate liability including
valuation, the application of transitional arrangements,
rating appeals, material change of circumstance, temporary
allowances, empty property rate, section 44a relief,
transitional certificates, charitable and other reliefs,
as well as acting on your behalf in an appeal against
your rateable value and representing you at valuation
tribunal.
If
you are a ratepayer or a property professional and require
advice on rating matters it is essential that you consult
a rating specialist.
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