The Business Rate is a national tax used to help finance local councils’ spending plans. Although they are collected locally, they are paid into a central pool and redistributed to councils based on their population. There is, therefore, no direct link between what businesses pay and local services.
The amount of Business Rates payable is calculated by multiplying the rateable value of a property (determined by the Inland Revenue Valuation Officer) by the multiplier (sometimes called the rate poundage) which is set by the government. Local councils have no, or at least very little, control over the amount of tax payable.
In the South Hams there are almost 5,000 properties assessed for Business Rates, and in 2010/11 we expect to collect around £23m.
Use the menu on the left for further information on how your bill is calculated, how it might be reduced, and how to pay.
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