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 2017 will run over a maximum of five 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.