The local tax paid in the UK by businesses, based on a local valuation of the property occupied by the business and the Uniform Business Rate (UBR) set by central government.
Local taxation is a form of taxation levied by a local government authority rather than by central government. In the UK, council tax and business rates are the main forms of local taxation.
A tax based on the value of property owned by a taxpayer. In the UK, council tax and business rates are charged based on the property’s value, defined by a series of value bands which depend on the region.
An abbreviation for Uniform Business Rate, a nationwide, standardized rate set by the government to determine the amount of business rates (a type of property tax) paid by businesses.
Uniform Business Rate (UBR) is a standardized rate set by the government used to calculate non-domestic property taxes in the United Kingdom.
