Rateable Value and the Transition Scheme
Rateable Values (RV) are assessed by the Valuation Office Agency. The council has no power to change your Rateable Value, so if you disagree with the assessment, you must follow the advice on the Valuation Office Agency website. Rateable Value Details
Transitional relief limits how much your bill can change each year as a result of business rates revaluation. The last revaluation came into effect on 1 April 2023.
This means changes to your bill are phased in gradually if you're eligible. From the 2023 to 2024 tax year, you'll get transitional relief if your property is in England and your Non Domestic Rates increase by more than a certain amount. If you are eligible, your bill will be adjusted automatically.
Your bill can change by the following % from one year to the next, depending on:
- your property's rateable value
- whether your bill is increasing or decreasing as a result of revaluation
If your bill is increasing from 1 April 2023
| 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% | 25% plus inflation | 40% plus inflation |
| Over £100,000 | 30% | 40% plus inflation | 55% plus inflation |
You will stop getting transitional relief when your bill reaches the full amount set by a revaluation. If your rateable value is changed by the Valuation Office, your transitional relief will automatically be recalculated. Sometimes this means, that when a businesse's ratable value is decreased, they do not imediately see a reduction in their bill due to the recalculation of the transitional relief.
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