Daventry has approximately 2,700 commercial businesses and collects in the region of £49 million each year.
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 tax payers, 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 your area.
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 former is higher to pay for small business rate relief. The Government sets the multipliers for each financial year for the whole of England according to formulae set by legislation.(Except in the City of London where special arrangements apply)
Paying Business Rates
Business Rates can now be paid over twelve months instead of ten. Should you wish to choose this option please submit your application in writing before April 15th of the financial year.
Further information about the business rates system, including transitional and other reliefs, may be obtained at www.gov.uk.
Find out how to determine who is liable for business rates
Business Rate Explanatory Notes 2018/19
Download the Council Tax Leaflet to see how Daventry District Council spends the money it receives.
NNDR information often requested under the Freedom of Information Act is available.