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We have been made aware that some business are receiving emails from rating agents offering a free assessment to see if you have been overcharged business rates due to  the 2017 revaluation. Ratepayers do not have to be represented in these discussions regarding their rateable value of their rates bill which can be done directly with the Valuation Office Agency or by contacting the business rates office. 

If you do decide to employ a rates adviser then you should check they have the necessary knowledge and expertise as well as appropriate indemnity insurance.

Transitional limits

Property values can change between each revaluation. The most recent revaluation took place on 1st April 2015 and came into effect on 1st April 2017.

Transitional arrangements phase in the effect of significant changes by limiting the amount by which a bill may rise following a revaluation. This form of rate relief is known as Transitional Relief and will show on your bill if applicable.

To help pay for this rate relief, there is also a limit placed on reductions in bills following a revaluation. This is known as Transitional Premium and will show on your bill if it applies.

Under the scheme limits continue to apply to yearly increases and decreases until the full amount is due (rateable value times the multiplier). Following the 2015 revaluation,  the scheme only runs for five years, after which time everyone pays the full amount (rateable value times the multiplier).

The tables below show the percentage increases and decreases applicable for the next five years, depending on the rateable value of the property.

If your bill is increasing

Rateable Value

2017/18       

2018/19       

2019/20       

2020/21       

2021/22    

Up to £20,000

 5.00%

 7.50%

10.00%

15.00%

15.00%

20,001 to £99,999

12.50%

17.50%

20.00%

25.00%

25.00%

Over £100,000

42.00%

32.00%

49.00%

16.00%

 6.00%

      

If your bill is decreasing

 

 

Rateable Value

2017/18

2018/19

2019/20

2020/21

2021/22

Up to £20,000

20.00%

30.00%

35.00%

55.00%

55.00%

20,001 to £99,999

10.00%

15.00%

20.00%

25.00%

25.00%

Over £100,000

 4.10%

 4.60%

 5.90%

 5.80%

 4.80%

     

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

For further information please contact us.

    
     
     
     
     
     
     
     
     

 

 

 

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