The Local Government Finance Act 1988 (Calculation of Small Business Non-Domestic Rating Multiplier) (England) Regulations 2024
Citation, extent, application and commencement1.
(1)
These Regulations may be cited as the Local Government Finance Act 1988 (Calculation of Small Business Non-Domestic Rating Multiplier) (England) Regulations 2024.
(2)
These Regulations extend to England and Wales and apply in relation to England only.
(3)
These Regulations come into force on 9th January 2025.
Calculation of small business non-domestic rating multiplier2.
In relation to—
(a)
the financial year beginning on 1st April 2025, and
(b)
paragraph A6 of Schedule 7 to the Local Government Finance Act 1988 (calculation of small business non-domestic rating multiplier), C is specified as 132.
In relation to England, for a chargeable financial year other than a revaluation year—
the non-domestic rating multiplier is calculated in accordance with paragraph A4 of Schedule 7 to the Local Government Finance Act 1988 (c. 41) (“the Act”), and
the small business non-domestic rating multiplier is calculated in accordance with paragraph A6 of that Schedule.
Item C in those calculations is the consumer prices index for September of the preceding financial year unless the Treasury by regulations specifies a figure which is less than the index.
The financial year beginning on 1st April 2025 (“2025-26”) is a chargeable financial year other than a revaluation year. In relation to 2025-26, these Regulations specify item C as 132 in relation to paragraph A6 (calculation of small business non-domestic rating multiplier) of Schedule 7 to the Act.
An impact assessment has not been produced for this instrument because it amends an existing local tax regime. Publication of a full impact assessment is not necessary for such legislation.