A Revaluation is not a tool to create additional revenue for the Government. Thankfully in this recession the Chancellor cannot undo the good work of the Local Government Finance Act 1988, when the National Uniform Business Rate was conceived. Whatever the total revenue was for Business Rates in 2009/2010, it must remain the same in real terms for next year.

This means that as the Rateable Values rise between the 2005 and 2010 Rating Lists the rate in the pound, known as the NNDR, must come down. This year the NNDR is £0.481 for small businesses and larger businesses pay £0.485 see inside for details on what comprises a large and small business. From 1 April 2010 the NNDR is £0.407 for small businesses and larger businesses pay £0.414

If you require further advice on your current or level of future rates liability then contact us on 08000 710 014