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How transitional relief works
Transitional relief is designed to reduce the impact of any significant changes in the rateable value after a revaluation - whether the change is up or down. Your local council will automatically include transitional relief when they calculate your bill.
When does transitional relief apply?
This relief only applies in England. To qualify your property has to have had a rateable value greater than �0 at 31 March 2010 and every day since.
New assessments do not qualify for transitional relief until after the next revaluation. This relief scheme will come to an end on 31 March 2015.
How does transitional relief work?
Transitional relief limits the percentage your business rates bill can be increased or decreased each year following revaluation. The transitional relief will apply each year until your bill reaches what your full bill would have been in 2010. The full 2010 bill is calculated by multiplying the rateable value by the multiplier.
What are small and large properties?
A small property is a property with a 2010 rateable value below £18,000 (or £25,500 within Greater London). All other properties are large properties.
How is transition funded?
Transition must be self-financing and the limits on increases are funded by the limits placed on decreases.