Despite various lobbying from the property industry, the Government has announced that the Uniform Business Rate (UBR) for 2009/10 is to be set at 48.5 pence in the pound for most properties and 48.1 pence in the pound for small properties. This represents a 5% increase over last year's Uniform Business Rate. Consequently, most new rates bills will increase by 5% from 1^st April 2009. The Uniform Business Rate is based on the Retail Price Index figure for September 2007, when inflation peaked at 5%. That has since fallen drastically as the downturn has turned into a full blown recession and the latest RPI is at 0% (February 2009).

Thompsons' partner, Andrew Kilpatrick says, “Whilst the September RPI figure is the usual basis for increasing the UBR for the following year, the Government did have the option of making an exception for 2009/10 in recognition that the September RPI index was unrepresentative of current conditions. Instead, it has chosen to apply what will be the highest increase in the UBR since 1992. In my view such an increase is hardly appropriate in a recession, when so many businesses across the whole economy are desperately struggling for survival. Instead, the Government pays lip service to the property sector by announcing a temporary increase in the Empty Property Rates Threshold, up to RV £15,000 from 1^st April 2009, which, in reality is likely to cost them little lost money in revenue and certainly will affect very few properties in the South of the country, or indeed in Swindon. Worse still, there is a new Business Rate Supplement Bill passing its way through Parliament, supposedly to enable Local Authorities to fund local economic development projects in their area, but in reality is yet another additional tax burden on businesses coming at a time when it can least be afforded or justified, in my view.”

“Any business that has not yet had their rateable value checked is urged to take action as soon as possible. Draft new rateable values for the 2010 Rating Revaluation will be available around September/October this year. Advice is available through Thompsons or other chartered rating surveyors.”