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Local Taxation in the United Kingdom - Coursework Example

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The paper "Local Taxation in the United Kingdom" will analyze the taxing policies in the United Kingdom. The aim of the new legislation is to elevate the powers of the local councils and give them more discretion in the way they should run their local governments…
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Local Taxation in the United Kingdom
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Download file to see previous pages This hereditament fits the requirement for this question. The calculations also assume that the value of the hereditament is constant from 2009-2014 and is fixed at the amount above (RightMove 2015; Shaxson 2011).
a) The rates payable for each of the years from 2009-2014 can be derived by simply multiplying the rateable value of the hereditament by the mandated multiplier for each of those years, as determined by the government. The multipliers for the different years are as follows (Eddisons 2015):
Multiplying the above percentages to the rateable value, which is the market value as discussed above, we get the following rates payable for each of the years 2009 to 2014, as required (Eddisons 2015).
b) As discussed above, the rate multipliers are determined by the government and are determined to be those in application for the rest of England and Wales, because New Malden is part of Greater London but is not part of the City of London where different rates and rules apply. The rate multipliers are then applied to the rateable value of the hereditament, which as discussed above is taken to be the sale value of the property. The assumption here is that the sale value from the property management firm is the rateable value of the hereditament as well (Eddisons 2015, RightMove2015).
c) The government at Kingston, where New Malden is situated for this exercise, publishes rate relief and rate discounts for different scenarios, but the rate payable for this hereditament suggests that it is not eligible for small business relief. Depending on use, however, the rates payable may be reduced and the occupier may be included in rate relief schedules, if the occupier is a charity for instance, or a non-profit organization. There is temporary relief too for three months for hereditaments that are not occupied (The Royal Borough of Kingston upon Thames 2015). ...Download file to see next pagesRead More
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