Offices suffer from unfair rates system

Article Abstract:

The UK uniform business rate system is very complex with 130 different regulations and amendments included within the legislation. Some observers are calling for a complete review and simplification of the business rate system. Others suggest that the present scheme has lead to some owners leaving their older properties empty rather than being charged for a high rate of liability on renovated buildings. The UK government receives an annual payment of 31 billion pounds sterling from the business rate system.

Tax Law, Prices and rates, Economic policy, Business enterprises

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One City's phasing is another's fiasco

Article Abstract:

The UK government's decision to phase in reductions in rateable values in London and the South East, rather than to pass on the full benefits of the drop in values, has attracted considerable controversy. Agents will now pay particular attention to the basis of rating assessments, and there are likely to be many appeals. However, some observers are pointing out the benefits of the new approach, especially in terms of making the level of liability more stable and predictable.

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Failure rating

Article Abstract:

The UK government will retain the Uniform Business Rate, but permit local authorities to raise the local rate by 1% a year to a maximum of 5%. This represents a shift away from the Labour party's earlier acceptance of the principle of reinstating a local business rate. Some observers believe that the new policy could lead to significant rises in business rates. There will also be serious problems associated with calculating rate liability.

Corporate Tax Rates, Taxation, Corporate taxes, Corporations, Tax policy, Tax rates

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