Guidance on how to work out Cost Rent Prescribed Percentages
The process for working out the prescribed percentages is described in paras 37 - 39 of the Premises Costs Directions. The information needed to work out the prescribed percentages is available on the Bank of England website, which has a statistical Interactive Database that will help you to calculate the required figures.
You will need to type in iumlnpy in the stats search box for the fixed rate and iumbedr for the variable rate. These will provide the required Bank of England rates to calculate the fixed or variable rates as described in Direction 38 (by entering the date range 31/3/Current Year in box 1 and 1/4/Current Year in box 2 then click the excel button and the calculation is presented showing the appropriate interest rate to which you add 1.5% to the iumlnpy (fixed) rate and/or 1% to the iumbedr (variable) rate.
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