Service Description: The Government has decided to put in place a business rates deferral scheme which will give you the option of spreading the Retail Price Index increase in your 2012-13 bill over three years, to help businesses manage their cash flow during the downturn. You will be able to defer payment of 3.2% of your 2012-13 bill – which is equivalent to 60% of the Retail Price Index increase - until 2013-14 and 2014-15. You will then pay back the total amount deferred over the next two years.
Answer: 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 rates 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.