From the 1 April 2023 the Government have put into place a transitional relief scheme to limit and phase in increases in rate bills as a result of the 2023 revaluation. Transitional relief will continue to apply until your bill reaches the full amount set by revaluation.
If your bill is increasing from 1 April 2023 as a result of Business Rates revaluation, the increase will be limited to a certain percentage. The amount of this percentage will depend on your rateable value.
Table showing information if your bill is increasing from 1 April 2023:
|
Rateable Value |
2023 to 2024 |
2024 to 2025 |
2025 to 2026 |
|
Up to £20,000 (£28,000 in London) |
5% |
10% plus inflation |
25% plus inflation |
|
From£20,001 (£28,001 in London) to £100,000 |
15% |
25% plus inflation |
40% plus inflation |
|
Over £100,000 |
30% |
40% plus inflation |
This relief will be calculated and applied automatically to bills which will be issued to qualifying businesses. There is no need to apply for this relief.
Further information on Transitional Relief can be found on the GOV.UK website