On Wednesday 27 October, the Chancellor confirmed the following in the autumn budget 2021:
Until formal guidance is issued by the government, we are unable to answer any queries about any of these announcements. The guidance will be posted here once it has been received.
Small business rate multiplier: 49.9 pence in the pound.
Standard rate multiplier: 51.2 pence in the pound.
For properties with a rateable value of more than £70,000, the GLA has levied a business rate supplement of 2p per pound of rateable value to contribute towards the cost of Crossrail. For more information visit, paying for Crossrail: business rate supplement.
Ratepayers do not have to be represented in discussions about their rateable value, their rates bill or applying for discounts and reliefs. However, ratepayers who do wish to be represented should be aware that members of the Royal Institution of Chartered Surveyors (RICS) and the Institute of Revenues, Rating and Valuation (IRRV) are qualified and are regulated by rules of professional conduct designed to protect the public from misconduct.
Before you employ a rating adviser, you should check that they have the necessary knowledge and expertise, as well as appropriate indemnity insurance. Take great care and, if necessary, seek further advice before entering into any contract.