Business rates in 2017
There are a number of changes to the business rates scheme due in April 2017
Business rates revaluation
Business rates are based on the rateable value of your business property. The rateable value is the amount of yearly rental income your property could be let for on the open market. Rateable values are reviewed periodically to take account of changes in the property market. The next business rates revaluation takes effect from April 2017.
The review of rateable values has been carried out by the Valuation Office Agency. More information is available at the Valuation Office Agency website. You can see
- your old rateable value
- your new rateable value
- an estimate of next year's business rates bill
- what to do if you disagree with the new proposed rateable value
Transitional relief scheme
If the rateable value of your property changes considerably either up or down, then these changes will be phased in over a number of years. This is done by capping the amount a business rates bill can change between one year and the next.
|Rateable value||Maximum increase in April 2017||Maximum decrease in April 2017|
|£28,000 or less||5%||20%|
|£28,001 to £100,000||12.5%||10%|
Business rates multiplier figures
Business rates are worked out by multiplying your property's rateable value by a figure set by the government. The multiplier figures and rateable value thresholds are due to change from April 2017 as follows:
|£0 to £17,999||48.4 pence in the pound|
|£18,000 and above||49.7 pence in the pound|
|£0 to £50,999||46.6 pence in the pound|
|£51,000 and above||47.9 pence in the pound|
Small business rates relief
Discounts on your business rates bill are available if your property is occupied and has a small rateable value. From April 2017 the thresholds for awarding small business rates relief are increasing as follows:
|Rateable values in 2016/2017||Rateable values in 2017/2018||Amount of small business rates relief|
|£6,000 or less||£12,000 or less||100%|
|£6,001 to £12,000||£12,001 to £15,000||Between 100% and 0% on a sliding scale - the larger the rateable value the smaller the amount of relief|
If you are already receiving small business rates relief you do not have to reapply. We will work out the new amount of relief when we send you your new bill for 2017.
If you do not currently receive small business rates relief but you become eligible from 2017 we will write to you. If you have more than one business property in most cases you can't get small business rates relief, and we need to check this before we give you a discount.
Other discounts and exemptions
All other discounts and exemptions will continue as before and you don't need to reapply for these in April 2017.