Transitional arrangements
Transitional arrangements will phase in the effect of significant changes in liability which arise from the 2005 revaluation of non-domestic property. Where appropriate, these arrangements will operate until March 2009, with all non-domestic property being revalued again from 1 April 2010.
- There are limits on the percentage by which bills may increase or decrease each year.
- This limit is applied to the base liability, which is the annual amount payable the previous year.
- After the limit has been applied, an adjustment for the effect of inflation is made to calculate the amount payable.
Special rules deal with changes in rateable values and the merger or splitting of existing properties.
The maximum increases and reductions as specified by the Government, are set out below:
Maximum increases and reductions for 2008/2009
The transitional relief scheme for the 2005 revaluation will operate over a four year period from 1 April 2005, and every ratepayer will pay their true liability by the fifth year at the latest.
Rateable Value £15,000 or more
Maximum increase including inflation: 29.75%
Maximum reduction including inflation: 22.15%
Rateable Value below £15,000
Maximum increase including inflation: 19.37%
Maximum reduction including inflation: 58.48%
For more information, visit the Business Link Website. |