Transitional Relief
All Rateable Values are reassessed every five years at a general revaluation. The current rating list is based on the 2010 revaluation. Whilst the 2010 revaluation will not increase the amount of rates collected nationally, within this overall picture over a million properties will see their business rates liabilities reduced and some ratepayers will see increases.
For those that would otherwise see significant increases in their rates liability, the Government has put in place a £2 billion transitional relief scheme (sometimes referred to as 'transition') to limit and phase in changes in rates bills as a result of the 2010 revaluation. To help pay for the limits on increases in bills, there are also limits on reductions in bills. Under the transition scheme, limits will continue to apply to yearly increases and decreases until the full amount is due (rateable value times the appropriate 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 01 April 2010, transitional arrangements will not normally apply to the part of the bill that relates to any increases in rateable value due to those changes. Changes to your bill as a result of other reasons (such as because of changes to the amount of small business rates relief) are not covered by the transitional arrangements.
The transitional arrangements are applied automatically and are shown on the front of your bill and if you have any queries please contact us (details below) .
Further information and a table showing the percentages by which a rates bill can increase or decrease in a single year before transitional relief will apply can be found following the link to the Business Link website.
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