- •1. Heating a house
- •1.1 Transfer of heat
- •1.2 Heat losses
- •1.3 Conduction heat loss
- •1.4 Convection heat loss
- •1.5 Radiation losses
- •1.6 Seasonal heating
- •1.7 Choice of installation
- •2. Investment
- •2.1 The value of money
- •3. Growth of money
- •3.1 Growth of a fixed amount
- •3.2 Growth of regular investment
- •4. Hire purchase
- •5. Buying a house
- •6. Income tax
- •6.1 Allowances
- •6.2 Taxable income
- •6.3 Standard rate and reduced rates of tax
- •6.4 Tax deducted by employer
- •7. Rates
- •7.1 Rateable value
- •7.2 Lp rate
- •7.3 The rates
7.2 Lp rate
The next step in calculating the rates, is to determine what a rate of 1 p in the Ј of rateable value will produce. 1 p in the Ј will produce Ј1 for every Ј100 of rateable value.
The occupier of the house with rateable value Ј150 would have to pay rates of Ј150 xO-30 = Ј45.
7.3 The rates
Councils are required to show each rate payer how the money collected from the rates is to be spent. The statement might look something like this:
Services administered by the Borough Council estimated product of a 1p rate: Ј17000.
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Public Health |
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Sewerage |
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3 |
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Refuse |
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2 |
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Other services |
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2-5 |
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Housing |
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3-4 |
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Highways |
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2-1 |
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Public lighting |
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o-8 |
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Other services and expenses |
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7-5 |
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