Revaluation 2023 and Transitional Arrangements

The latest rating lists comes into effect from on 1 April 2023 and is based on the valuation date of 1 April 2021.

A revaluation makes sure rateable values reflect changes in the property market. This revaluation will reflect the changes in value that have occurred since the last revaluation six years ago. This includes the impact of the COVID-19 pandemic.

Revaluations maintain fairness in the system. They help to redistribute the total amount payable in business rates. They are not carried out to generate extra revenue.

Transitional Arrangements

If you rates bill has changed significantly as a result of a revaluation, it may be affected by a transitional adjustment.

Transitional arrangements soften the impact of revaluation by phasing in increases to business rates over a period of time.

Transitional relief is automatically calculated and will be shown on the front of your bill.

The scheme applies only to the bill based on a property at the time of the revaluation. If there are any changes to the property after 1st April 2023, transitional arrangements will not normally apply to the part of a bill that relates to any increase in rateable value due to those changes. Changes to your bill as a result of other reasons (such as changes to the amount of small business rate relief) are not covered by the transitional arrangements.