Definition
All rateable values are reassessed at a general revaluation. The 2017 revaluation takes effect from 1 April 2017. For those that would otherwise see significant increases in their rates liability, the Government has put in place a transitional relief scheme to limit and phase in changes in rate bills as a result of the 2017 revaluation. To help pay for the limits on increases in bills, there are also limits on reductions in bills. Under the transitional scheme, limits continue to apply to yearly increases and decreases until the full amount is due (rateable value times the appropriate multiplier).
Which properties will benefit from relief?
| Property Size | 2017/18 | 2018/19 | 2019/20 | 2020/21 | 2021/22 |
|---|---|---|---|---|---|
| Small | 5.0% | 7.5% | 10.0% | 15.0% | 15.0% |
| Medium | 12.5% | 17.5% | 20.0% | 25.0% | 25.0% |
| Large | 42.0% | 32.0% | 49.0% | 16.0% | 6.0% |
Medium is above £28,000 rateable value in London and £20,000 elsewhere. Large above £100,000
| Property Size | 2017/18 | 2018/19 | 2019/20 | 2020/21 | 2021/22 |
|---|---|---|---|---|---|
| Small | 20.0% | 30.0% | 35.0% | 55.0% | 55.0% |
| Medium | 10.0% | 15.0% | 20.0% | 25.0% | 25.0% |
| Large | 4.1% | 4.6% | 5.9% | 5.8% | 4.8% |
Medium is above £28,000 rateable value in London and £20,000 elsewhere. Large above £100,000
We will automatically show any transitional adjustment on your bill.
If you do not understand your bill or want an explanation of how it has been worked out please contact the Business Rates team using the details below.