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HOW WILL 2010 BUSINESS RATES BE CALCULATED?On 30th September the Valuation Office Agency is due to inform occupiers, and landlords in the cases of empty buildings, what their rateable values with effect from 1st April 2010.Rateable values will be calculated by assessing changes in rental values of comparable properties between 1st April 2003 (when 2005 RV levels were set) and April 2008, the new common base date.To determine liability, the Department For Communities And Local Government calculates a national multiplier, known as the Uniform Business Rate, by which a property’s rateable value must be multiplied. This year’s UBR is 48.5p and this is expected to fall to an estimated 41.7p in the new rate year.Put simply, if your rateable value increases by more than the average, your rates bills will increase too.Should you require further information about your draft rateable value, which should be carefully checked even if it is staying the same or reducing, please do not hesitate to contact Howard Elliott of our Basingstoke office.

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