Transitional Relief
Many ratepayers will see a change in their rates bills following a revaluation. The latest revaluation came into effect on 1 April 2023 with Rateable Values broadly representing the yearly rent the property could have been let for on the open market on a particular date specified in legislation. For the current 2023 rating list, this date was set as 1 April 2021. Some properties will see more significant changes than others. Transitional arrangements are used to phase in these changes, and ratepayers will see their bill capped each year at a set percentage increase due to the revaluation.
If your bill increased from 1 April 2023
| Rateable value | 2023 to 2024 | 2024 to 2025 | 2025 to 2026 |
|---|---|---|---|
| Up to £20,000 (£28,000 in London) | 5% | 10% plus inflation | 25% plus inflation |
| £20,001 (£28,001 in London) to £100,000 | 15% | 25% plus inflation | 40% plus inflation |
| Over £100,000 | 30% | 40% plus inflation | 55% plus inflation |
As of 2023, transitional arrangements have changed from the previous 2017 scheme, with transitional premium no longer affecting ratepayers with decreased rateable values.
For more information please go to GOV.UK - Transitional Relief or contact us.