One of the consequences of the 2010 non-domestic rate revaluation, which comes into effect on 1 April, is that certain thresholds linked to rateable value limits also have to be raised so that small businesses are not disadvantaged.
I am therefore announcing today that we intend to raise the annual rateable value limit below which the owners of small businesses can serve blight notices and claim other types of compulsory purchase compensation. The limit was previously raised to £29,200 at the time of the 2005 revaluation, and it will now be raised to £34,800 from 1 April 2010. This reflects the changes in rateable values between 2005 and 2010, so that businesses which are currently eligible to serve a blight notice will continue to be able to do so when the new rating lists come into effect.
The same threshold also applies for businesses claiming compensation for loss of value under part 1 of the Land Compensation Act 1973 when their premises are affected by physical factors such as noise, vibration, fumes and artificial lighting from new public works such as highways and aerodromes.
This threshold also applies under the 1973 Act to enable proprietors aged at least 60 to claim disturbance compensation on the basis of the total extinguishment of their business when they are subject to a compulsory purchase order. This allows claimants of that age to retire if they do not want to re-establish their business elsewhere.
The Town and Country Planning (Blight Provisions) (England) Order 2010 (SI No: 2010/498), which is the Statutory Instrument necessary to achieve the change to the rateable value limit, will be laid today in order for it to come into force on 1 April.