Overview of Business Rates
Revaluation and Transitional Arrangements
All rateable values are reassessed at revaluations. The most recent revaluation took effect from 1st April 2023. Revaluations ensure that business rates bills are up-to-date, and more accurately reflect current rental values and relative changes in rents. Frequent revaluations ensure the system continues to be responsive to changing economic conditions.
At a revaluation, some ratepayers will see reductions or no change in their bill whereas some ratepayers will see an increase. Transitional relief schemes are introduced at each revaluation to help those facing increases. Transitional relief is applied automatically to bills.
More information on the 2023 revaluation and transitional arrangements can be found at on the GOV.UK website: www.gov.uk/introduction-to-business-rates/revaluation.