A Revaluation of business premises usually takes place every five years throughout England and Wales.
A Revaluation by the Valuation Office Agency (VOA) is currently underway. For further information see Revaluation 2017 Customer Advice.
As a result of Revaluation the Rateable Value (RV) of a business premises may increase or decrease significantly from 1st April 2017.
For 2017/18 Business Rates Transitional Relief will apply as follows...
Transitional arrangements help to phase in the effects of these changes by limiting the amount by which a bill may rise following a revaluation.
To help pay for limits on increases in bills after a revaluation, there also have to be limits on reductions in bills. Under the transition scheme, limits continue to apply to yearly increases and decreases until the full amount is due.
The Council will automatically calculate any transitional arrangement against your Business Rates bill - there is no need to apply for it.
For further information on how Transitional Relief is calculated and applied see: GOV.UK - Business rates relief, Sect 3 Transitional rate relief.
From 30 September 2016, the VOA has made over 1.9m draft rateable values available for inspection online.
To check the draft 'rateable value' your business premises and get an estimate of your 2017/18 Business Rates Bill visit : GOV.UK - Find and check your business rates valuation
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