uniform business rate

(redirected from UBR)
Also found in: Dictionary, Acronyms, Encyclopedia, Wikipedia.

Uniform Business Rate

Also called the UBR. The local tax rate for commercial property in England and Wales. The rate changes every year due to inflation. Even though it is paid to local governments, it is determined by the central government.

uniform business rate (UBR)

the annual charge made by local authorities in England and Wales on business premises, factories, warehouses, offices and shops. The UBR is fixed at a set rate throughout the country (for 2005/06 the rate has been fixed at 42.2p in the £). Thus, for any given premises anywhere in England and Wales the rate payable is calculated simply by multiplying the above rates by the assessed rateable value of the premises. The UBR came into effect in April 1990, replacing the previous system of rating which gave individual local authorities discretion in setting the base rates payable in their particular areas. Inevitably, this created anomalies with large variations from area to area, as some authorities increased their local services and put the burden of paying a higher proportion of the bill on to businesses rather than householders. The introduction of the UBR required all business premises to be revalued at 1990 prices with further revaluations scheduled every five years.

uniform business rate (UBR)

the annual charge in England and Wales on business premises. The UBR, along with the ‘council tax’ (see LOCAL TAX) and central government grants, is used to finance local authority spending. Although the UBR is paid by businesses to the particular local authority in whose area their premises are located, the UBR itself is fixed at one set (‘uniform’) rate throughout the country by the government.
References in periodicals archive ?
3 progresses toward an OASIS Standard, the UBR Beta implementation will provide for verification of the completeness of the specification, as well as give users and tool providers an opportunity to get ready for the new functionality," said George Zagelow, managing director, UDDI Operators Council.
His solution, a supplementary business rate, would allow councils to raise additional revenue on top of the UBR.
However RV multiplied by UBR often does not give the rates payable.
Mr Evans, who heads up the rating department in the West Midlands Office of King Sturge, said a rise in the UBR would take effect next April.
In his speech, Mr Brown was saying: "In the past, with the rigidity of the UBR, local authorities gained no direct financial incentive from giving priority to business creation.
Currently, a small firm with a turnover of under pounds 50,000 sees UBR as 36 per cent of profits where a large business with a turnover of pounds 1 million views it as only 3.
7 million who pay UBR - predominantly small businesses - and completely remove more than 150,000 from their rates liability.
In addition, the Promina 4000 can differentiate UBR performance based on configured peak cell rate.
The Labour Government promised to review the iniquitous UBR system when it came to power, as this was one of the real bugbears for small businesses.
The Fx chipset supports all the standard ATM QoS mechanisms, including CBR, VBR-rt, VBR-nrt, UBR, and ABR.
The ATM PMC NIC uses the PCI ATM SAR 'NICStar' controller from IDT, which supports all CBR, VBR, UBR and ABR service classes.
CMTS: Broadband Access Systems Cuda 12000, Cisco UBR, RiverDelta's Broadband Services Routers(TM), Terayon's Teralink, other standard DOCSIS-compliant CMTS