The next revaluation of properties for business rates will take effect from 1 April 2023 based on the rental market at 1 April 2021. As part of this process, the Government is required to consult on transition arrangements they have used previously to help businesses to adjust to their new business rates bills.
This consultation seeks views on the format of the transitional arrangements for the 2023 revaluation. The questions are:
- How do you believe the government should strike the balance in the 2023 transitional arrangements between supporting ratepayers facing increases to their bills and allowing the effect of the revaluation to flow through into bills?
- What format of transitional relief do you think should be provided for the 2023 revaluation?
- Do you think that we should continue to provide assurances through transitional relief that bills will not rise by more than a set percentage due to the revaluation?
- Do you think we should provide different caps for different sizes of properties?
- What are you views on how we should fund transitional relief within the requirement for the government to have regard to the object of securing (so far as practicable) that the scheme is revenue neutral over its life?
- Do you have any other views on the format of the transitional arrangements for the 2023 revaluation?
This consultation will last for 8 weeks from 30 May 2022.