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Essential rating data: Wales

 

Non-domestic rating multipliers (uniform business rate poundages)

There is no transitional phasing scheme in operation in Wales (unlike England and Scotland) for the 2005 rating revaluation.

Rate year All properties
2005/06 42.1p
2006/07 43.2p
2007/08 44.8p
2008/09 46.6p
2009/10 48.9p

Small Business Rate Relief Scheme

A small business rate relief scheme was introduced from 1 April 2007 and further extended from 1 April 2008 to 2012. It covers all businesses in Wales and will be automatically applied. The key points are detailed below.

Rateable value

  • Less than 2,000 = 50% relief
  • £2,001 - 6,499 = 25% relief
     
  • 9,000 (post offices) = 100% relief
  • 9,001 - 11,999 (post offices) = 50% relief
     
  • 2001 - 6,499 (retail premises, food, liquor, petrol) = 25% relief
  • 2001- 8,999 (credit unions) = 50% relief
  • 2001 - 11,999 (child care) = 50% relief

General interest on refunds

The appropriate rate of interest depends on the period when the overpayment occurred, not when the refund is paid. The actual rate of interest on rate overpayments is calculated using a statutory formula linked to the base rate quoted by 'reference banks' on 15 March each year.

Rate year Rates of interest upon refunds of overpaid rates
2000/01 5.00%
2001/02 4.75%
2002/03 3.00%
2003/04 2.75%
2004/05 3.00%
2005/06 3.75%
2006/07 3.50%
2007/08 4.25%
2008/09 4.25%
2009/10 0.00%

 

Further information

For more UK business rates data and and a quick guide to Colliers International's rating services download our brochure below or contact us to discuss your needs.

Colliers International Essential Rating Data 2010/11 (PDF 308KB)

 
 


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