Business Rates Revaluation and Transitional Relief 2017

Revaluation 2017

The most recent revaluation came into effect in England and Wales on 1 April 2010, based on rateable values from 1 April 2008.

The next revaluations will be in 2017 in England, Scotland and Wales. The revaluation will come into effect on 1 April 2017, based on rateable values from 1 April 2015.

What is revaluation 

The Valuation Office Agency (VOA) regularly reassess and update the rateable values of all business properties; usually every five years. This is called a Revaluation.

This is done to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market.

Revaluation does not raise extra revenue overall.

More information

For more information on the 2017 Revaluation, rateable values, and business rates visit the GOV.UK website.

You can also estimate your business rates bill, including any small business rate relief the local council may apply.

Download the Revaluation 2017 leaflet

Download the Revaluation 2017 draft list

Transitional Relief 2017

Business Rates - Transitional Relief Scheme

Property values normally change each revaluation. Transitional relief phases in the effects of these changes by limiting the amount by which a bill may rise following a revaluation.

To help pay for limits on increases in bills after a revaluation, there also has to be limits on reductions in bills. Under the transition scheme, limits continue to apply to yearly increases and decreases until the full amount is due (rateable value times the multiplier).

The scheme applies only to the bill based on a property at the time of the revaluation. If there are any changes to the property after the revaluation date, transitional relief will not normally apply to the part of a bill that applies to any increase in rateable value due to those changes.

From April 2017, transitional relief will apply to those who are moving to higher bills.

  • Small property size is a 2017 rateable value of less than £20,000 outside London
  • Medium property size is a 2017 rateable value of less than £100,000
  • Large property size is a 2017 rateable value above £100,000

There are limits on how much your rates can increase or decrease.

Rate Increase Limits

Year

Small Property

Medium Property

Large Property

2017 to 2018

5%

12.5%

42%

2018 to 2019

7.5%

17.5

32%

2019 to 2020

10%

20%

49%

2020 to 2021

15%

25%

16%

2021 to 2022

15%

25%

6%

Rate Decrease Limits

Year

Small Property

Medium Property

Large Property

2017 to 2018

20%

10%

4.1%

2018 to 2019

30%

15%

4.6%

2019 to 2020

35%

20%

5.9%

2020 to 2021

55%

25%

5.8%

2021 to 2022

55%

25%

4.8%

The Council will automatically calculate any transitional relief against your Business Rates bill - there is no need to apply for it.

Transitional relief is explained in more detail on the Government's Business Rates webpage.