Business Rates Revaluation 2023: Consultation on the transitional arrangements
Applies to England
Read the full outcome
Detail of outcome
As announced at Autumn Statement 2022, the government will introduce a 3-year Exchequer funded Transitional Relief scheme from 2023 to support ratepayers facing increases in their business rates bill due to the revaluation.
This publication summarises the responses to the consultation on the 2023 Transitional Relief scheme and sets out the government’s response.
Original consultation
Consultation description
Business rates revaluations update rateable values, and therefore, rates bills to reflect changes in the rental market. This helps ensure that shifts in economic activity which have driven changes in market values are fairly reflected in business rates liabilities.
The next revaluation of properties for business rates will take effect from 1 April 2023 based on the rental market at 1 April 2021. The government is required by law to introduce at each revaluation transitional arrangements which we have previously used to support businesses to adjust to their new bills. Therefore, this consultation seeks views on the format of the transitional arrangements for the 2023 revaluation.
Documents
Updates to this page
Last updated 17 November 2022 + show all updates
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Added summary of responses and government response.
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First published.