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.

Maximum increases and decreases in April 2017
Rateable valueMaximum increase in  April 2017Maximum decrease in  April 2017
£28,000 or less5%20%
£28,001 to £100,00012.5%10%
Over £100,00042%4.1%

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:

Business rates multipliers for 2016/2017
Rateable valueMultiplier
£0 to £17,99948.4 pence in the pound
£18,000 and above49.7 pence in the pound
Business rates multipliers for 2017/2018
Rateable valueMultiplier
£0 to £50,99946.6 pence in the pound
£51,000 and above47.9 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:

Small business rates relief changes
Rateable values in 2016/2017Rateable values in 2017/2018Amount of small business rates relief
£6,000 or less£12,000 or less100%
£6,001 to £12,000£12,001 to £15,000Between 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.