Following the 2017 non-domestic rates revaluation by the Valuation Office Agency, transitional relief will be implemented to support ratepayers whose eligibility for Small Business Rate Relief (SBRR) will be affected as a result of the revaluation.
The transitional relief scheme will be introduced to assist ratepayers in receipt of SBRR on 31 March 2017, experiencing a reduction in the percentage of SBRR they are entitled to on 1 April 2017, due to increases in their rateable value following the revaluation.
SBRR will be applied prior to transitional relief. The transitional relief will work by phasing in any resultant increases in liability over a 3 year period (25% of increased liability in year 1, 50% in year 2 and 75% in year 3.
Eligible ratepayers are those:
- moving from full SBRR to partial SBRR
- moving from full SBRR to no SBRR
- moving from partial SBRR to no SBRR
- staying within partial SBRR but seeing an increase in rateable value