If you are a ratepayer in Wales you are able to apply to pay part of your 2012 - 2013 rates increase over 3 years. This will give businesses some flexibility to help manage their rates bills during the current economic climate.
Normally the multiplier used to calculate business rates bills increases every April in line with the previous September's retail price index, (RPI) which for 2012-2013 is 5.6%. However, since last September the RPI has reduced and the Welsh Government has made regulations to allow Welsh ratepayers to opt to pay an annual increase of only 2.24% in 2012-2013 with the remaining 3.36% spread over the next two financial years, 50% payable in 2013-2014 and 50% payable in 2014-2015, in ten equal apportioned instalments over the course of those years.
Ratepayers must continue to pay their current bills as usual until notified of a revised schedule of payments by their local authority. This measure will only apply to 2012-2013 bills and will not apply to bills that have already been fully paid.
How to calculate the value of the deferred payment
Values are rounded and indicative only.
A business with a rateable value of £20,000 will normally be liable to pay rates of £9,040 in 2012-2013. This would include the annual increase of 5.6% (around £506). Of this, 60% (£303) could be paid over the next 2 years at the rate of £151.50 per year.
How to apply
You can apply any time from now until 31 December 2012.
If you want to take up this option, you should inform us in writing, either by email or letter, providing details of the full address of the property (or if more than one property, the full address of each property) that you pay rates for, and your rate account number, which is on your rate bill. We will issue you with a revised bill as soon as possible.
Applications and any enquiries should be addressed to the Business Rates Team on telephone 01443 863006 or email to firstname.lastname@example.org.
* Where a ratepayer fails to pay any instalment due in respect of the 2012 financial year, the billing authority serves a notice in accordance with regulation 8(1) of the Non-Domestic Rating (Collection and Enforcement) (Local Lists) Regulations 1989 and subsequently the ratepayer loses their right to pay by instalments and the deferral will cease to have effect. If a ratepayer is in default of any instalment due and receives a final notice in 2012-13 or either of the two subsequent years your local authority will begin normal recovery procedures to recover the balance of the outstanding bill for that financial year, including the balance of any deferred amounts and the entire outstanding bill for the year in which you default.
What's the deadline for applying?
You can apply at any time until 31 December 2012, as long as you have some of your bill left to pay. We would encourage you to apply early.
When will I have to pay back the amount I put off?
You will pay back half the amount in 2013/14 and half in 2014/15, as well as paying your full bill for those years. Your rate bills in the next two years will include details of the amounts you have put off paying and need to pay, and your payments will be adjusted in line with this.
What if I have more than one property?
If you have more than one property in the same council area, you will need to give the council the address of all the properties you want to claim for. If you have properties in more than one council area, you will need to apply to each council separately.
Is there any other help for businesses?
Further details of the full range of support and information available to businesses are available at www.businesslink.gov.uk.