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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Local Government Finance Act 1988 (Non-Domestic Rating Multipliers) (England) Order 2015 No. 135 URL: http://www.bailii.org/uk/legis/num_reg/2015/uksi_2015135_en_1.html |
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Statutory Instruments
Rating And Valuation, England
Approved by the House of Commons
Made
7th January 2015
Laid before the House of Commons
7th January 2015
Coming into force in accordance with article 1
The Treasury make the following Order in exercise of the powers conferred by paragraph 5(3) of Schedule 7 to the Local Government Finance Act 1988(1).
1.-(1) This Order-
(a)may be cited as the Local Government Finance Act 1988 (Non-Domestic Rating Multipliers) (England) Order 2015;
(b)comes into force on the day after the day in which it is approved by a resolution of the House of Commons, provided that the time condition in paragraph (2) is met; and
(c)applies in relation to England only.
(2) The "time condition" is that the approval of the Order must be given before the approval by the House of Commons of the local government finance report for the financial year beginning on 1st April 2015.
2. For the purposes of paragraph 3 of Schedule 7 to the Local Government Finance Act 1988 B is specified as 256.9 for the financial year beginning on 1st April 2015.
Mark Lancaster
Gavin Barwell
Two of the Lords Commissioners of Her Majesty's Treasury
7th January 2015
(This note is not part of the Order)
In relation to England, the small business non-domestic rating multiplier is calculated in accordance with paragraph 3 of Schedule 7 to the Local Government Finance Act 1988 ("the Act") for each financial year when new rating lists are not being compiled. The financial year beginning on 1st April 2015 ("2015-16") is a year when new lists are not being compiled.
Paragraph 5(3) of Schedule 7 to the Act enables the Treasury by order to specify an amount for item B in those calculations. If the Treasury exercise that power in relation to a financial year the amount so specified must be lower than the retail prices index for September of the preceding financial year.
This Order specifies that for 2015-16 the amount for item B will be 256.9.
The Order will only come into force if it is approved by resolution of the House of Commons before the House approves the local government finance report for 2014-15.
An impact assessment has not been produced for this instrument as no negative impact on the costs of the private or voluntary sectors is foreseen. Further information is available from the Enterprise and Property Tax team, HM Treasury, 1 Horse Guards Road, London SW1A 2HQ and on www.gov.uk/government/organisations/hm-treasury. An Explanatory Memorandum is available alongside the instrument at www.legislation.gov.uk.
