2023 business rates revaluation
Transitional relief, if applicable, limits how much your business rates bill can increase each year as a result of a revaluation, so that changes to your bill are phased in gradually.
From the 1 April 2023 Transitional Relief will only apply where there's an increase in a rateable value.
If the rateable value is decreasing, the business will benefit from the full reduction straightaway from 1 April 2023.
The Transitional Relief cap increases each year depending on the rateable value band applicable.
This cap is applied before any other reliefs and exemptions.
If your bill is increasing from 1 April 2023 Transitional Relief will be calculated as follows:
|Rateable value||2023 to 2024||2024 to 2025||2025 to 2026|
|Up to £20,000||5%||10% plus inflation||25% plus inflation|
|£20,001 to £100,000||15%||15% plus inflation||40% plus inflation|
|Over £100,000||30%||30% plus inflation||55% plus inflation|