Business rates
Business rates is a local tax paid by occupiers or owners of business premises and is also known as National Non-Domestic Rates (NNDR). Business rates help to pay for local services and is calculated and collected by Rushcliffe Borough Council. How much you pay depends on the rateable value of the property, what multiplier (or rate poundage) is set by central government and what rate relief schemes you are eligible for. Individual liability is fixed by applying a "multiplier" or rate poundage to a rating assessment.
The rate poundage is fixed annually by central government. Rating assessments are fixed by the Valuation Office Agency, a division of HM Revenues and Customs and reflect the rental value of the premises at a fixed point in time. Currently this date is 1 April 2010. The revaluation of business properties is undertaken every five years and the next one is due from 1 April 2015. More information is available from VOA business rates.
Councils are responsible for sending out bills and collecting business rates. The money collected is paid to central government who then re-distribute the money as grants to councils, according to their needs. Councils are also responsible for displaying the rating list. The list is also available online on the Valuation Office Agency homepage. This list contains details of all rating assessments in the borough and is available for inspection during normal office hours. The details included are public information and can be used by ratepayers to form an opinion on the accuracy of their own or other businesses’ assessments.
The Government has introduced a scheme which allows you to defer payment of part of this year's increase to the 2013/14 and 2014/15 financial years. Please see the deferral scheme section for more information.
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