▁ ▁The ▁immediate ▁prede cess or ▁to ▁business ▁rates ▁was ▁the ▁general ▁rate , ▁established ▁by ▁the ▁General ▁R ate ▁Act ▁ 1 9 6 7 . ▁This ▁was ▁a ▁local ▁tax ▁in ▁England ▁and ▁Wales ▁on ▁both ▁domestic ▁and ▁non - dom estic ▁property ▁and ▁was ▁based ▁on ▁r ental ▁values . ▁It ▁retained ▁the ▁core ▁concept ▁of ▁how ▁to ▁identify ▁a ▁rate able ▁property ▁from ▁the ▁older ▁rating ▁systems , ▁which , ▁along ▁with ▁other ▁features , ▁can ▁still ▁be ▁seen ▁in ▁the ▁modern ▁system . ▁The ▁Local ▁Government ▁Fin ance ▁Act ▁ 1 9 8 8 ▁repe aled ▁the ▁General ▁R ate ▁Act ▁and ▁replaced ▁it ▁with ▁two ▁new ▁tax es ▁from ▁ 1 ▁April ▁ 1 9 9 0 . ▁The ▁Community ▁Char ge , ▁better ▁known ▁as ▁the ▁" p oll ▁tax ", ▁replaced ▁the ▁rating ▁of ▁domestic ▁property . ▁It ▁was ▁itself ▁later ▁replaced ▁by ▁Council ▁Tax . ▁The ▁remaining ▁non - dom estic ▁properties ▁were ▁to ▁be ▁covered ▁by ▁a ▁modern ised ▁version ▁of ▁the ▁general ▁rate . ▁ ▁The ▁new ▁non - dom estic ▁rating ▁system ▁became ▁known ▁as ▁business ▁rates , ▁or ▁sometimes ▁the ▁universal ▁business ▁rate . ▁It ▁retained ▁from ▁its ▁prede cess ors ▁the ▁concept ▁of ▁a ▁series ▁of ▁local ▁rating ▁lists , ▁with ▁each ▁property ▁being ▁ass essed ▁for ▁a ▁rate able ▁value ▁based ▁on ▁r ental ▁values . ▁R ating ▁lists ▁were ▁prepared ▁and ▁maintained ▁by ▁the ▁Val u ation ▁Office ▁( re const it uted ▁in ▁ 1 9