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Business Rates (Non-Domestic Rates)

Business Rates are charged on properties that are used for a wide range of purposes

What are Business Rates?

Torridge Council is responsible for the billing and collection of business rates from around 3,600 business premises across the district, totalling approximately £10m. Business rates are the way that those who occupy non-domestic property contribute towards the cost of local services.

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.

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 local authorities will benefit from growth in business rates revenue.