December 2009
Rating Revaluation 2010
Transitional Scheme and Multipliers
The transitional scheme for England is as follows. As in previous revaluations there are two bands; one for small properties, defined as under £25,500 rateable value in London and £18,000 rateable value elsewhere in England. The higher band is for all other properties.
Limits for increases and decreases in rate bills, after the addition for inflation over the previous year, will be as follows:-
|
INCREASES |
DECREASES |
||
Year |
Lower Band |
Higher Band |
Lower Band |
Higher Band |
2010/11 |
+5% |
+12.5% |
-20% |
-4.6% |
2011/12 |
+7.5% |
+17.5% |
-30% |
-6.7% |
2012/13 |
+10% |
+20% |
-35% |
-7.0% |
2013/14 |
+15% |
+25% |
-55% |
-13.0% |
2014/15 |
+15% |
+25% |
-55% |
-13.0% |
The multiplier for small properties will be 40.7p per pound of rateable value and the general multiplier for all other properties will be 41.4p.
In addition, certain reliefs will be available for small businesses and we will publish a further Digest in the New Year detailing those concessions.
There will be no transitional scheme for Wales. The multiplier is to be 40.9p.
Scotland has adopted the same multipliers as England – that is 40.7p for small properties and 41.4p for large. However, it has not yet announced whether there will be a transitional scheme.