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Transitional rate relief

All rateable values are reassessed at a general revaluation. From 1 April 2023 revaluations will take place every three years. On 1 April 2023 the new rating list came into effect and your bill will be based on the rateable value assigned to the property on this date. 

Property values normally change a good deal between each revaluation, so transitional relief arrangements help to phase-in the effects of these changes on ratepayers’ bills. From 1 April 2023, only large rises are restricted so businesses are not suddenly asked to pay much larger amounts. Where there is a decrease in rateable value, ratepayers will see the reduction in their bill straight away.

We will automatically include transitional relief when we calculate your bill. It is shown on the bill as ‘Transitional Adjustment’.

Transitional relief limits the percentage your business rates bill can be increased each year following revaluation. The transitional relief will apply each year until the full amount is due and your bill reaches what your full bill should be.

The full bill is calculated by multiplying the rateable value by the multiplier. More information is available on how are business rates calculated page.

More information on transitional rate relief is available on the GOV.UK website.