31st March 2017
The next business rates revaluation will take place on 1 April 2017.
Businesses in England and Wales will pay rates that reflect the changes in their local property market.
Businesses using 1 property with a rateable value of £12,000 and below will receive 100% small business rate relief.
Eligible properties with a rateable value between £12,000 and £15,000 will also get tapered relief.
No businesses coming out of small business rate relief will see their bills increase by more than £600 in 2017/18.
Any increases to bills will be capped at £50 a month or at the transitional relief cap.
Calculating your rate
You can work out your business rates by checking the rateable value of your property. This is set by the Valuation Office Agency.
For businesses in Scotland, rates are calculated using the rateable value set by the local assessor and the poundage rate (a proportion of your rateable value) set by the Scottish government.
Contact us to discuss how these changes may affect your business.