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Business Rate

   Also found in: Wikipedia 0.01 sec.
Business Rate
A property tax on a business or other non-residential property. Business rates are used to fund local government services and projects such as road construction and improvement. Business rates are used in England and Wales; they trace their origins to at least the 16th century.


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Therefore, it is not WAG that will be paying for the decrease in the multiplier but the 40,000 firms which will be getting higher business rate bills as a result of revaluation.
His comments have come following reports that 60 per cent of businesses in the UK will see a fall in their business rate bills next year.
As business rate bills are calculated by multiplying the rateable value of a property by the Uniform Business Rate (UBR), expected changes in the UBR should have also been a welcome relief for businesses in the north.
 
 
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