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Important changes from 1 April 2017 and how they will affect you including revaluation news

Changes in the government's 2016 Budget and Autumn Statement announcement which affect Business Rates from 1 April 2017

Small Business Rate Relief

  • From April 2017, small businesses that occupy a single property with a rateable value of £12,000 or less will not have to pay Business Rates.
     
  • There will be a tapered rate of relief on properties between £12,000 and £15,000.
     
  • The threshold for the small business rates multiplier will increase from £18,000 to include properties with a rateable value of up to £51,000.

Local newspapers

  • There will be a £1,500 business rates discount for office space occupied by local newspapers in England up to a maximum of one discount per local newspaper title and per hereditament, and up to state aid limits, for two years from 1 April 2017.

Rural settlement relief

Small businesses in a rural area with a population of less than 3000 currently benefit from 50% relief increasing to 100% from 1 April 2017.

Full-fibre infrastructure

A new 100% Business Rates relief for new full-fibre infrastructure for a 5 year period from 1 April 2017.

Transitional scheme for the new rating list

For those ratepayers who would otherwise have seen significant increases in their rates liability, the Government has put in place a transitional relief scheme to limit and phase in changes in rate bills as a result of the 2017 revaluation. To help pay for the limits on increases in bills, there were also limits on reductions in bills.

Under the transition scheme, limits apply to yearly increases and decreases until the full amount is due. The scheme applies only to the bill based on a property at the time of the revaluation. The transitional arrangements are applied automatically, you do not have to apply for them and they are shown on the front of your bill.

Revaluation 2017

The current valuations used by local authorities to calculate business rate bills are based on the 2010 valuation. The next revaluation will take place on 1st April 2017, and is based on rental values at 1st April 2015.

Business rate bills sent out with effective dates from 1st April 2017 will use the new 2017 valuation information.  More information on revaluation 2017 can be found at the Valuation Office Agency.

What you need to know

You can review your draft valuation and let the Valuation Office Agency know if any of the details are incorrect.

Please read the Valuation Office Agency guidance for what you need to know and what you need to do.

Please continue paying Business rates until you have been notified of any change to your Business Rates.