Local authorities in England have forecast that they will receive business rates income of £24.9bn in 2023/24, according to new data released by the Department for Levelling Up, Housing and Communities (DLUHC).
The figure is the total amount that authorities estimate they will collect after all reliefs, accounting adjustments and sums retained outside the rates retention scheme are taken into consideration.
Councils also forecast that they will grant a total of £7.3bn of relief from business rates in 2023/24. Of this, £1.3bn is the net cost of small business rate relief, £3.3bn is the cost of other mandatory relief and £2.6bn is the cost of discretionary relief.
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The data is based on national non-domestic rates returns received from 296 billing authorities in England. One authority, East Staffordshire, was excluded from the data as it has not yet submitted its returns. DLUHC said that the missing authority accounted for 0.2% of total net rates payable in 2022/23, “so the effect of their data being missing on the England level total is small”.
Figures are not comparable to the 2022/23 data because of the business rates revaluation taking effect from 1 April 2023. The figure for business rates income in 2022/23 was £22.5bn.
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