Changes to your bill due to revaluation
Your Business Rates property value can change over time. The last revaluation was on 1 April 2015 and was introduced on 1 April 2017. The next revaluation is due in 2023.
If your bill goes up due to a revaluation Transitional Relief may be applied so the increase is gradual. If your bill goes down a Transitional Premium may be applied so the decrease is gradual. It will say on your bill if you recieve Transitional Relief or pay a Transitional Premium.
After five years you will pay the full amount.
The table below show the percentage increases and decreases.
|
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% |
|
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% |
If there are any changes to your property in this time you will not recieve Transitional Relief.