NNDR government announcements
On the 25 November 2015 the Chancellor of the Exchequer announced the following:
- the doubling of the Small Business Rate Relief will be extended for a further 12 months until 31 March 2017;
- the Government will report back on the business rates review by Budget 2016;
- the provisional 2016-17 small business non-domestic multiplier is 48.4p and the non-domestic multiplier is 49.7p.
- responses to the issues and questions raised in the Business Rates Appeals Consultation document should be made by 4 January 2016.
On the 16 March 2016 the Chancellor of the Exchequer announced the following to take affect from 1 April 2017:
- Small business rate relief doubled from 50% to 100% for properties with a rateable value less than £12,000;
- Properties with a ratable value between £12,000 and £15,000 will recieve tapered relief;
- Increase in the threshold to a rateable value of £51,000 for the standard business rates multiplier.