Firstly, apologies to any Scottish or Welsh readers as the following does not apply to them. Having said that, the Scottish Parliament and the Welsh Assembly usually follow changes to the rating system in England, so it is probably still worth you reading on.
National Non-Domestic Rate or “Rates in the Pound”
The government has now confirmed that the English rates in the £ for 2014-15, will be £0.482 for all properties with a Rateable Value (‘RV’) of £18,000 or over (£25,000 in Greater London); and £0.471 for all properties with RV’s below £18,000 or £25,000, as above.
TAG’s Rating expert Michael Blank explains, “These figures do, of course, represent 2% increases over those for the current rate year of 2013-14. For the overwhelming majority of ratepayers therefore, their rates bill for 2014-15 (i.e. from 1st April 2014), will be 2% higher than this year’s (2013-14). The exceptions being those whose 2014-15 rates bills are still affected by “Transition”.
For more information please e-mail: info@tenantag.co.uk