▁UK ▁government ▁executive ▁ag ency . ▁R ating ▁lists ▁can ▁be ▁alter ed ▁either ▁to ▁reflect ▁changes ▁in ▁properties , ▁or ▁as ▁valu ations ▁are ▁appe aled ▁against . ▁New ▁rating ▁lists ▁are ▁normally ▁created ▁every ▁five ▁years , ▁however , ▁the ▁ 2 0 1 5 ▁re valu ation ▁has ▁been ▁post pon ed ▁until ▁ 2 0 1 7 . ▁ ▁In ▁ 2 0 1 4 - 1 5 ▁authorities ▁collected ▁a ▁total ▁of ▁£ 2 2 . 9   b ill ion ▁in ▁business ▁rates , ▁representing ▁ 3 . 5 3 % ▁of ▁the ▁total ▁UK ▁tax ▁income ▁and ▁ach ieving ▁an ▁average ▁in - year ▁collection ▁rate ▁of ▁ 9 8 . 1 %. ▁ ▁On ▁ 1 ▁April ▁ 2 0 1 3 ▁a ▁new ▁system ▁of ▁business ▁rates ▁ret ention ▁began ▁in ▁England . ▁Before ▁April ▁ 2 0 1 3 ▁all ▁business ▁rate ▁income ▁collected ▁by ▁coun c ils ▁formed ▁a ▁single , ▁national ▁pot , ▁which ▁was ▁then ▁distributed ▁by ▁government ▁in ▁the ▁form ▁of ▁formula ▁grant . ▁Through ▁the ▁Local ▁Government ▁Fin ance ▁Act ▁ 2 0 1 2 , ▁and ▁reg ulations ▁that ▁followed , ▁the ▁government ▁gave ▁local ▁authorities ▁the ▁power ▁to ▁keep ▁up ▁to ▁half ▁of ▁business ▁rate ▁income ▁and ▁transfer ▁half ▁of ▁it ▁cent r ally , ▁to ▁central ▁government . ▁The ▁central ▁share ▁is ▁then ▁distributed ▁to ▁coun c ils ▁in ▁the ▁form ▁of ▁re venue ▁support ▁gr ants . ▁The ▁other ▁half ▁kept ▁by ▁local ▁authorities