Business rates annual notification
- Category: Business rates
- Last Updated: 15 February 2017
Providing local business with information on who is required to pay business rates, how business rates are calculated for a property (valuation), how to pay business rates.
Legislation with effect from April 2012 has removed the need for local authorities to post budget leaflets with the annual Business Rate Demand Notice, you can now view these leaflets in the attachments on the bottom of this page.
Business Rates Rateable Value
Apart from properties that are exempt from Business Rates, each non-domestic property has a rateable value, which is set by the valuation officers of the Valuation Office Agency (VOA), an agency of Her Majesty's Revenue and Customs. They draw up and maintain a full list of all rateable values, available on the Valuation Office website.
The rateable value of your property will be shown on the front of this bill. This broadly represents the yearly rent the property could have been let for on the open market on a particular date. For the revaluation effective from 1 April 2017, this date was set as 1 April 2015.
The valuation officer may alter the value if circumstances change. The ratepayer (and certain others who have an interest in the property) can appeal against the value shown in the list if they believe it is wrong. Further information about the grounds on which appeals may be made and the process for doing so can be found on the VOA website or from your local valuation office.
Business Rates - Non-Domestic Rates Multiplier
The national non-domestic rating multiplier is the rate in the pound which the rateable value is multiplied by to produce the annual rate bill for a property. It is set annually by the Government and except in a revaluation year cannot, by law, rise by more than the retail prices index.
The local authority works out the business rates bill by multiplying the rateable value of the property by the appropriate multiplier. There are two multipliers; the standard non-domestic rating multiplier and the small business non-domestic rating multiplier. The former is higher to pay for small business rate relief. Except in the City of London where special arrangements apply, the Government sets the multipliers for each financial year for the whole of England according to formulae set by legislation. Between revaluations the multipliers change each year in line with inflation and to take account of the cost of small business rate relief. In the year of revaluation the multipliers are rebased to account for overall changes to total rateable value and to ensure that the revaluation does not raise extra money for Government. The current multipliers are be shown on the front of your bill.
How to pay your Business Rates
Customers can make payment using any of the following methods:
Direct Debit: If you wish to pay by Direct Debit on the 1st, the 15th or the 25th of the month, you need to complete the online Direct Debit mandate or the mandate on the reverse of your bill and send it to Ryedale District Council.
Cash Payments: You can pay at any Post Office or retail outlet where you see the PayPoint symbol. You will need to take your bill with you as it has a unique barcode printed on the front. To find your nearest outlet, please visit www.allpay.net/outlet.
By Standing Order, BACS or Internet: Payment can be made using Ryedale District Councils' online payments with most major debit or credit* cards. If you wish to set up payments through your bank by BACS, Standing Order or through an online banking facility, please ensure you quote your account reference and pay to the following bank account: Account no: 43834568 Sort code: 30-63-64.
By Telephone: Using a major debit or credit* card on the Councils' 24 hour freephone payment service 0800 0351566. Please have your account reference to hand.