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The rateable value should represent the reasonable rental value of the occupation according to the circumstances at the "Material Day" and according to rental values at the "Antecedent Valuation Date". (For the compiled 2005 Rating List the "Material Day" is 1 April 2005 and the "Antecedent Valuation Date" is 1 April 2003).
Most people in England and Wales get their water from one of 17 companies and have their waste water taken away by one of 11 firms. Households cannot choose a supplier - it is down to where you live.
Business rates is the commonly used name of Non-Domestic Rates in Wales, [1] a tax on occupation of non-domestic property. Rates are a property tax used to fund local services that date back to ancient times.
The Valuation Office Agency is a government body in England and Wales. It is an executive agency of His Majesty's Revenue and Customs.. The agency values properties for the purpose of Council Tax and for non-domestic rates in England and Wales (in Scotland this function is performed by the Scottish Assessors).
Even within states, individual local government authorities can often choose the specific basis of rates – for example, it may be on the rental value of houses (as in Western Australia) or on the unimproved land value (as in New South Wales). These rateable valuations are usually determined by a statutory authority, and are subject to ...
The rateable value limits were raised from £400 to £600 in London and from £200 to £400 elsewhere for those properties appearing in the 1963 valuation list. Those limits were raised to £1,500 in London and to £750 elsewhere from 1 April 1973 to take account of the revised valuation list that took effect on that date.
It replaced rural property relief, [46] but included similar provisions, with 50% relief for most properties with a rateable value below £2,000, and 25% relief for rateable values between £2,000 and £5,000. Post offices with rateable values of up to £9,000 are eligible for 100% relief; while those over £9,000 and up to £12,000 receive 50% ...
Initially the 1967 act applied only to homes below these rateable values: £400 p.a. in London and £200 p.a. elsewhere (thus targeting low-to-middle income homeowners); the reform coincided with lower wages becoming less of a bar to access to loans from major mortgage lenders. The act has since been amended on a number of occasions to expand ...