Revaluation 2017 and transitional relief arrangements
All rateable values are reassessed at a general revaluation typically every five years. The 2017 revaluation took effect on 1 April 2017.
Revaluations make sure each ratepayer pays their fair contribution and no more, by ensuring that the share of the national rates bill paid by any one ratepayer reflects changes over time in the value of their property relative to others.
Revaluation does not raise extra money for Government.
While the 2017 revaluation will not increase the amount of rates collected nationally, within this overall picture, over 7 out of 10 ratepayers will receive a reduction or no change in their bill and some ratepayers will see increases.
For those that would otherwise see significant increases in their rates liability, the Government has put in place a £3.6 billion transitional relief scheme to limit and phase in changes in rate bills as a result of the 2017 revaluation.
To help pay for the limits on increases in bills, there also have to be limits on reductions in bills. Under the transitional scheme, limits continue to apply to yearly increases and decreases until the full amount is due (rateable value times the appropriate multiplier).
The scheme applies only to the bill based on a property at the time of the revaluation. If there are any changes to the property after 1st April 2017, transitional arrangements will not normally apply to the part of a bill that relates to any increase in rateable value due to those changes.
Changes to your bill as a result of other reasons (such as changes to the amount of small business rate relief) are not covered by the transitional arrangements.
The transitional arrangements are applied automatically and are shown on the front of your bill. Further information about transitional arrangements and other reliefs may be obtained from the business rates section or GOV.UK:introduction to business rates.
Ratepayers do not have to be represented in discussions about their rateable value or their rates bill. However, ratepayers who do wish to be represented should be aware that members of the Royal Institution of Chartered Surveyors (RICS) and the Institute of Revenues, Rating and Valuation (IRRV) are qualified and are regulated by rules of professional conduct designed to protect the public from misconduct.
Before you employ a rating adviser, you should check that they have the necessary knowledge and expertise, as well as appropriate indemnity insurance. Take great care and, if necessary, seek further advice before entering into any contract.
Disputing your rateable value
An appeal on your 2017 rateable value is not possible, and may not be necessary, until you have completed CHECK and CHALLENGE.
Check challenge appeal
You can click, find and review your rateable value on the VOA’s website. If you have reason to believe that your 2017 rateable value is not correct, follow the instructions provided on the site. You will need to do the following (not available until 1 April 2017):
CHECK – review and confirm the facts about your property held by the VOA
CHALLENGE – once the facts are established, explain why you believe your valuation is wrong.
Rates remain due and payable until such time, the rating list has been amended by the Valuation Office Agency under: Regulation 23 (I) of the Non Domestic Rating (Collection & Enforcement)(Local Lists) Regs 1989.