Rateable Values from 2017

Business rates revaluation

The new rating list is effective from 1 April 2017.

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If you wish to find out what rates may be payable, you will find a business rates calculator on the Gov.uk website. To find out your new rateable value please visit the valuation office website.

All rateable values are generally reassessed every five years at a general revaluation to ensure bills paid by any one ratepayer reflect changes over time in the value of their property relative to others. The last rating list was based on the 2010 revaluation, the Growth and Infrastructure Bill delayed the revaluation from 2015 to 2017.

For those that would otherwise see significant increases in their rates liability, the Government has put in place a £3.6 billion 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 also have to be 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).  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 1 April 2017, transitional arrangements will not normally apply to the part of a bill that relates to any increase 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 rate relief) are not covered by the transitional arrangements.

The transitional arrangements are applied automatically and are shown on the front of your bill.  Further information about transitional arrangements and other reliefs may be obtained from the Revenues Section or the Gov.uk website.

More information on revaluation 2017 can be found on the Valuation Office Agency website.