It is as if there will be an election around the corner? NNDR multiplier for 2020/21 is re-engineered
Usually by October each year we know what the growth in the two preceding September CPI’s are and this gives us the meat to put in the sausage machine to calculate next year’s “rate in the pound” or more properly known, the NNDR multiplier. This October 2019 many observers have been wrong-footed by the latest Government announcement slightly reducing the estimated £0.500/£.
The Government now approved The Local Government Finance Act 1988 (Non-Domestic Rating Multipliers) (England) Order 2019, and have set the Statutory Instrument to prescribe the rate for NNDR at £0.499p/£ for small properties and £0.512/£ for large properties
The history of the NNDR multipliers for the 2017 Rating List in England is shown below: –
|Rate Year||Small Property (RV <£51,000 RV)||Large Property (RV >£51,000 RV)|