Business Rates Revaluation 2023: Consultation on the transitional arrangements
A consultation on the transitional arrangements to be introduced at the 2023 revaluation to ensure changes in bills are gradual and phased in over time.
Business rates revaluations update rateable values, and therefore, rates bills to reflect changes in the rental market. This helps ensure that shifts in economic activity which have driven changes in market values are fairly reflected in business rates liabilities.
The next revaluation of properties for business rates will take effect from 1 April 2023 based on the rental market at 1 April 2021. The government is required by law to introduce at each revaluation transitional arrangements which we have previously used to support businesses to adjust to their new bills. Therefore, this consultation seeks views on the format of the transitional arrangements for the 2023 revaluation.