Business Rates or Non Domestic Rates are collected by Local Authorities and are the way that these who occupy non-domestic property contribute towards the cost of local services. Under the business rates retention arrangements introduced from 1 April 2013, authorities keep a proportion of the business rates paid locally. This provides a direct financial incentive for authorities to work with local businesses to create a favourable local environment for growth, since authorities will benefit from growth in business rates revenues.
The money, together with revenue from council taxpayers, revenue support grant provided by the Government, and certain other sums, is used to pay for the services provided by your local authority and other local authorities in this area. Further information about the business rates system, including transitional and other reliefs, may be obtained at www.gov.uk Opens in a new window.