Business Rates (NNDR)
Business Rates are collected by the six District Councils within Cheshire and paid into a national 'central pool'.
Rateable Value
Every five years the rateable value of all 1.8 million business properties in England and Wales are reassessed. The most recent revaluation came into effect on 1st April 2005, and was based on the annual open market rental valuation of property at 1st April 2003.
The revaluation is not aimed at changing the amount of money collected nationally, but makes sure that individual rateable values, reflect the changes that have taken place in the property market, since the last revaluation in 2000.
Further information on Business Rates can be found by visiting the Business Link website.
National Non-domestic Rating Multiplier
The national non-domestic rating multiplier is the rate in the pound by which the rateable value is multiplied to produce the annual rate bill for a property. It is set annually by the Government and, except in a revaluation year, cannot by law, rise by more than the increase in the retail price index.
From 1st April 2005, there are two multipliers, the small business non-domestic rating multiplier, which is applicable to those that qualify for the small business relief and the non-domestic rating multiplier.
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The standard multiplier for 2008/9 is 46.2p in the £.
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There is also a lower multiplier of 45.8p in the £, for businesses that qualify for Small Business Rate Relief.
For further information on Business Rates visit your Local Authority website:
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