The Local Government Finance Act 1988 (Calculation of Small Business Non-Domestic Rating Multiplier) (England) Regulations 2024

Made: 11th December 2024

Laid before the House of Commons: 12th December 2024

Coming into force: 9th January 2025

The Treasury make the following Regulations in exercise of the powers conferred by paragraph A10(4)(b) of Schedule 7 to the Local Government Finance Act 1988[^f00001].

Citation, extent, application and commencement

1

• (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 multiplier

2

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.

Signed

Jeff Smith — Anna Turley — Two of the Lords Commissioners of His Majesty’s Treasury — 11th December 2024

Explanatory note

(This note is not part of the Regulations)

EXPLANATORY NOTE

In relation to England, for a chargeable financial year other than a revaluation year—

• (a) 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

• (b) 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.

Footnotes

[^f00001]: 1988 c. 41. Paragraphs A6 and A10 were inserted into Schedule 7 by section 15(2) of the Non-Domestic Rating Act 2023 (c. 53).