Revaluation Business Rates Relief
Revaluation relief is aimed at businesses facing large increases in their rates bill. This is due to the revaluation of their property from 1 April 2017. The operation of the scheme is determined locally. Our scheme compares the net rates bill for 2016-2017 to the net rates bill for 2017-2018.
Revaluation business rates relief scheme
This is a four year scheme. It is aimed at ratepayers facing substantial increases in their rates bill. This is due to the revaluation of properties for the 2017 Rating List. Eligibility for relief will be established in 2017-2018. Relief for the subsequent three years will only be available to properties receiving relief at 31 March. This is in the previous financial year. Relief will not be awarded for any period after 31 March 2021.
To be eligible for relief, all of the following six conditions must be met:
- The property must have a rateable value of between £20,000 and £200,000.
- The property must be occupied and have been occupied at 31 March 2017.
- The rates bill must have increased when comparing the net daily liability at 31 March 2017 with the net daily liability at 1 April 2017 by:
- At least 7.5% for properties with a rateable value of between £20,000 and £99,999;or
- At least 15% for properties with a rateable value of between £100,000 and £200,000.
- The property must not be occupied by a precepting body or other publicly funded organisation.
- The ratepayer must not be a Charity or other organisation receiving mandatory rate relief.
- The premises are not occupied by a business with multiple premises on a national or regional basis.
Amount of business rates relief
In 2017-2018, relief will be awarded at 100% of the amount above the 7.5% or 15% increase referred to above. In subsequent years, the amount of relief awarded will be:
- 2018-2019: 50% of the relief awarded in 2017-2018;
- 2019-2020: 20% of the relief awarded in 2017-2018;
- 2020-2021: 2.5% of the relief awarded in 2017-2018.
The scheme may be reviewed prior to the end of each financial year if there is unallocated funding remaining.
No application will be required for relief. A ratepayer facing a substantial increase, who does not fall within criteria set out, may make an application. This application for relief would be on the grounds of exceptional circumstances.
Recalculation of Relief
If the rateable value of the property increases, no additional relief will be awarded. This is with an effective date after 1 April 2018. Reductions in rateable value will result in a re-calculation of relief.
Ending of Relief
Relief will cease if:
- The premises become vacant; or
- The rateable value reduces to below £20,000. This is from the date the Rateable value reduces.
Any appeal under this scheme will be heard by the Human Resources and Appeals Committee.