The UK Consumer Price Index (CPI) rose by 1.7% on an annual basis in September 2019, signalling an increase in rates liabilities for businesses with a rateable value below £51,000.
This increase will result in a Small Business Non Domestic Rating Multiplier (Small UBR) for 2020/21 of 0.500
Assuming the supplement of 0.013 remains the same, the Non Domestic Rating Multiplier (Large UBR) for 2020/21 will be 0.513
The rate of inflation used in Transitional Calculations (Q) is determined by the change in the small multiplier not the CPI. The value of Q for 2020/21 will be 1.018 (or 1.8% as a percentage)
These figures should still be considered as Estimates. The Provisional Multipliers will be formally announced in December and confirmed in February or March 2020.
For more information about how this will impact your business rates liabilities, please get in touch.
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