Where your business rates go

The council has no control over business rates as the amount is set by the government. Until 31 March 2013, the money collected by the council was pooled and redistributed by central government to councils as part of the annual formula grant settlement.

From 1 April 2013, along with all other local authorities, Thanet District Council receives less government grant but keeps about half of the business rates we collect locally. This provides a financial incentive to improve the local economy. The remainder continues to go to central government for re-allocation to local authorities through various grants. Central government continues to set the amount of rates you must pay each year.