Transitional arrangements
Property values normally change a good deal between each revaluation. Transitional arrangements help to phase in the effects of these changes by limiting the amount by which a bill may rise following a revaluation. To help pay for the limits on increases in bills after a revaluation, there also have to be limits on reductions in bills. Under the transition scheme, limits continue to apply to yearly increases and decreases until the full amount is due (rateable value times the multiplier).
The scheme applies only to the bill based on a property at the time of the revaluation. If there are any changes to the property after the revaluation date, transitional arrangements will not normally apply to the part of a bill that applies to any increase in rateable value due to those changes.
Any transitional adjustments will be shown on the front of your bill.
Further information about transitional arrangements may be obtained from Revenue Services or on the Business Link website.
2010 Transitional Scheme
The scheme will cap increases to rates bills over a five-year period and will be funded by capping reductions in other rates bills (option 3). The caps will be structured as follows:
|
|
2010/11 |
2011/12 |
2012/13 |
2013/14 |
2014/15 |
| RV is below £18000 |
Upward cap (small properties) |
5% |
7.5% |
10% |
15% |
15% |
| RV is £1800 or more |
Upward cap (large properties) |
12.5% |
17.5% |
20% |
25% |
25% |
|
|
|
|
|
|
|
| RV is below £18000 |
Downward cap (small properties) |
20% |
30% |
35% |
55% |
55% |
| RV is £1800 or more |
Downward cap (large properties) |
4.6% |
6.7% |
7% |
13% |
13% |