If your account is in credit you may be entitled to a refund.
You may not be able to have a credit refunded if you have other debts with the council (eg other business rates accounts, council tax accounts or overpaid housing benefits).
Refunds are only paid directly into a bank account.
If the business rates was paid by Direct Debit the refund will usually be paid back into the bank account the payments were from.
If you would like the refund paid into a different account or the business rates was not paid by Direct Debit, you will need to provide the account details of where you would like the refund sent. If this bank account is only in one person’s name but the business rates account was in two or more names then you will need to provide written agreement from everyone named on the bill that they are happy to have the refund paid into this account. Without written agreement you may not receive the whole amount.
Payment of Interest on overpayments from 1 April 2023
The Non-Domestic Rating (Payment of Interest) Regulations 1990 provide that the rate of interest payable on refunds of overpaid rates, arising from alterations to the rating list, should be set for any year at one percentage point below the standard rate at 15 March (or the next business day) in the preceding year.
On 15 March 2023, the standard rate of interest was 4.0%; therefore, the rate of interest to be applied for the rating year 1 April 2023 to 31 March 2024 is 3.0%.
Where applicable, Interest and Tax payments will be calculated at the time a refund is processed.