September 2008 – Business Rates Update

The “valuation date” for the new rating list which will come into effect in April 2010 is 1 April 2008. We can therefore already assess the likely winners and losers in the North East against a national benchmark of an anticipated 10% increase in Rateable Value overall. This rate poundage will be adjusted by circa 10%.

The winners are likely to be high street retail and industrial and the loosers offices and buildings assessed by reference to building costs.

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