Every five years all non-domestic properties are subject to a revaluation. Property values (and therefore the rateable values) can change a lot between each revaluation.
The Government introduced a transitional scheme to phase in the effects of the large increases and decreases in business rates bills caused by revaluations.
This means there are limits on the amount bills can increase or decrease each year.
The current scheme which was introduced with effect from 1 April 2010 will run over a maximum of four years until the true level of new rates is reached (i.e. rateable value times the multiplier). However, the majority of rate payers will drop out of the transitional scheme in the first year or two.
Transitional arrangements are calculated automatically and are shown on your rates bill.
How do I find out more?
Have a look at this website, it deals with all matters concerning business rates: My Business Rate Website
If you have any questions about the scheme, please contact us.
What if I appeal against my rateable value?
If your bill is affected by transitional arrangements you may find that a change in rateable value following an appeal makes no difference to the amount you pay straight away. You will not receive the benefit until the true level of new rates is reached (i.e. current rateable value times the multiplier).