NNDR reduces 15% from 48.1p to 40.7p in 2010

A Revaluation is not a tool to create additional revenue for the Government.  Thankfully in this terrible economy The Chancellor cannot undo the good work of the 1988 Local Government Finance Act when the grand scheme of a National Uniform Business Rate was conceived.  Whatever the total revenue was for Business Rates in 2009/2010 was, 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.

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