Further guidance from the Government was released shortly before Christmas. The Retail Price Index annual inflation stands at 2.6% in September 2012.
The provisional 2013/14 lower UBR is 0.462p.
The supplement has increased to 0.9p, the provisional 2013/14 upper UBR is 47.1p.
Last year Scotland used the same value for England, we suspect that this will remain in tandem.
Based on 2.6% RPI, the provisional UBR for Wales is 0.464p.
Although these increases are no surprise, it will be a further blow to businesses who are already struggling under an ever increasing rates burden says Howard Elliott, Head of BDT’s Rating Department.
These figures are likely to remain provisional until they receive Royal Assent later this year.
2nd January 2013