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What's new in business rates?

  • What's new in business rates?

This page gives an overview of the changes planned to the business rates scheme. We will update this page as and when more information becomes available.

Revaluation 2017

The VOA regularly updates the rateable values of all business properties, usually every five years. This is called a revaluation and is done to maintain fairness in the system by reflecting changes in the property market over time; it doesn’t raise extra money for the government.

Your rateable value is used to work out the amount you pay in business rates.

The most recent revaluation came into effect from 1 April 2017. If you think that your 2017 rateable value is wrong, you need to do the following:

You can’t appeal on your 2017 unless you have completed check and challenge.

Find out more about the 2017 revaluation on GOV.UK

Supporting small business relief

Ratepayers losing small business or rural rate relief as a result of the 2017 revaluation will have increases to their bill limited to £600 per year.

This relief will run for five years to 31 March 2022. Ratepayers will receive the relief until this date or until their bill reaches what it would have been in the relief scheme, whichever is first.

Local discretionary discount

The government has given local authorities a set amount of money to help local businesses experiencing large increases in their business rates bills following the 2017 revaluation.

This money will be phased over the five year revaluation period from 2017-18 to 2021-22, with the amount of money reducing each year.

Public House (pub) relief

The government is providing funding for local authorities to provide a £1,000 discount to pubs with a rateable value of below £100,000. Originally this relief was going to be available for 2017/18 only but the government has extended the scheme for another year. Pubs with a rateable value of below £100,000 will now also receive a £1,000 discount for 2018/19.

Newspaper relief

From 1 April 2017 a new, £1,500 a year relief has been introduced for office space occupied by local newspapers. This is restricted to one award of relief per local newspaper title, per property and will be for two years. This relief is subject to state aid limits.

Rural rate relief

Rural rate relief has been permanently doubled from 50% to 100% for qualifying properties.

 

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