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Glossary of Business Terms
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Business RatesA tax levied in the UK on all commercial properties. This is collected by local authorities but set by central Government. It is calculated in two parts.
Each property is given a Rateable Value or RV, set by the Valuation Office. Government then sets a multiplier each year which is applied to the RV to give the actual rates payable.
Some discounts are available, notably for small businesses and charities, and for empty properties.
See also Rateable Value, Business Rate Relief, Rate Multiplier
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