Business rates revaluation 2017
Seeks views on the proposed transitional arrangements to phase in changes in business rate bill as a result of the 2017 business rates revaluation.
Many ratepayers will see only a small change in their rates bill at the revaluation. However, some properties will see a more significant change – both increases and reductions. Transitional arrangements are used to phase in these changes.
The transitional arrangements will support ratepayers by allowing them time to adjust to their new rates bills. Those ratepayers facing increases (who will be in sectors and locations where rateable values have increased more than the average) will see their bill capped each year at a set percentage increase due to the revaluation. Those businesses will be able to plan for their rates future bills.
As with the 2010 transitional arrangements, the caps on increases and reductions will be calculated before the large property and London supplements. Changes in business rate bills for reasons unconnected to the revaluation (such as changes to the property or other reliefs) are also outside of the transitional arrangements.