Deferral
Scheme 2009
The
chancellor anounced on 31st March a scheme to defer part
of the increase in business rates that businesses will
face from 1st April.
The
full details will not be available until July, and ratepayers
must pay the amounts demanded on their bills until the
scheme is active, but the aim is to give ratepayers the
option to defer 60% of their increase, thereby reducing
the increase from 5% to 2%
This
does not change the multiplier, and it does not change
the actual liability for 2009/10, it simply gives the
ratepayer the opportunity to defer part of the increase
in 2009/10 and pay it back in 2010/11 and 2011/12.
Typically,
a business that has premises with an RV of 25,000 will
be able to defer £345.00 of their rate bill and
repay it over the following two years.
Interest
Rate for Refunds 2009/10
The
interest rate for refunds 2009/10 has been confirmed as
nil.
Empty
Property Rate - pre budget report.
In
the pre budget report, the Chancellor, Alistair Darling,
announced that for the rate year 2009/10 empty business
properties with a rateable value of less than 15,000 will
be exempt from business rates. This is a change from the
current figure of 2,200 and is expected to be for one
year only.
Previous
News
Avoiding
the empty property rate
Rating
Revaluation 2010
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