uniform business rate

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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
(1) The UST's big communities are more obvious than the USR's; therefore, UBR is better than UBT, denoted by UBR > UBT.
The functionality at the edge design is capable of carrying nrt-VBR, ABR, and UBR connections over the ABR VPC core.
The study mentions that CBR traffic requires a larger overhead so that this reduces the effective capacity of an STM-1 link by 44/53, while UBR causes only a 48/53 reduction.
The UBR is now a multiversion UDDI registry with support for Vi and V2 of the specification.
In the case of UBR Foods, where the system had to be able to handle the supply of 18 production lines, something like five robots would have been required in a conventional layout, each being able to serve a maximum of four "pick- and place" points.
The Government has been able to reduce the UBR in England because property values in London have continued to increase through the recession and businesses there will pay more, but without the London effect the revaluation is going to hurt more in Wales than England, Gerald Eve said.
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.
That would at least help business in a small way." Mark Clapham, rating surveyor at the Birmingham office of national commercial property consultancy Lambert Smith Hampton, said companies generally would welcome the decision to stagger the rise in unified business rates (UBR).
City rating specialist David Evans said companies would see the Uniform Business Rate (UBR) tax rise 2.7 per cent from April 1.