2010 Revaluation Transitional Arrangement
The purpose of the rating revaluation effective from 1/4/2010 is to try to ensure rateable values are based on more up-to-date rental values. The rateable value of a property can change significantly between each revaluation. As a result of these changes, some ratepayers may face a large increase (or decrease) in their rates bill. The Transitional Relief scheme is designed to help phase in the effects of these changes by limiting how much the rates bill can increase or decrease each year.
The transitional arrangements following the 2010 revaluation mean that rates bills for businesses operating from small properties (i.e. those properties with rateable values below £25,500 in Greater London or £18,000 elsewhere in England and Wales) will not rise as steeply as they would do otherwise.
Below are two tables illustrating the yearly increase/decrease limit on Rate Bills