Monitoring and Reporting 49: Non Domestic Rates 17/18 – Review
Posted on 8 March 2017 by Education Finance
Non Domestic Rates are funded via the School Budget Share. We have tried to estimate as far as possible the 17/18 liability for your school however you are probably aware that a new Non-Domestic Rate cycle is in operation and all properties were revalued, new multipliers are being used and there are also changes to transitional relief calculations.
We therefore intend to review rates in June to judge whether adjustments are required to the funding provided. In order to aid this comparison could all schools please pay the bill in full in April, rather than by instalments.
If you receive your bill in March, please also ensure that you do not process it until the next financial year. If you process it in March by accident you will need to submit a Payment in Advance accrual at year-end to ensure this falls into the correct financial year.
If you would like to raise a specific query regarding your school in advance of this review please email the finance schools mailbox: email@example.com however please be aware that we may not make adjustments until after the review.
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