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Rates revaluation package announced

Series: ODPM News Release ; (2004/0293) 1 December 2004 (3)Publication details: 2004Subject(s): Summary: Final details of proposals relating to the revaluation of business rates have been announced by the ODPM. The announcement gives details of the multipliers that will be used to calculate rate bills and explains the arrangements for supporting businesses through various relief schemes. Following a consultation earlier in 2004, the eligibility criteria for relief has been extended. The Local Government Act 2003 requires the revaluation - which takes effect from 1 April 2005 - to be accompanied by a transition scheme to lessen the effects of sudden and significant rates bills. Full details on these measures can be found on the website. http://www.odpm.gov.uk/pns/displaypn.cgi?pn_id=200 4_0293

Final details of proposals relating to the revaluation of business rates have been announced by the ODPM. The announcement gives details of the multipliers that will be used to calculate rate bills and explains the arrangements for supporting businesses through various relief schemes. Following a consultation earlier in 2004, the eligibility criteria for relief has been extended. The Local Government Act 2003 requires the revaluation - which takes effect from 1 April 2005 - to be accompanied by a transition scheme to lessen the effects of sudden and significant rates bills. Full details on these measures can be found on the website. http://www.odpm.gov.uk/pns/displaypn.cgi?pn_id=200 4_0293