Transitional arrangements phase in the effect of large changes in liability arising from the 2010 revaluation of non-domestic property.
Where appropriate, these arrangements will operate until March 2015, with the next general revaluation now due to take effect from 1 April 2017. There are limits on the percentage by which bills may increase (this gives rise to transitional relief) or decrease (this gives rise to a transitional premium) each year. Further information about transitional arrangements may be obtained from Mole Valley District Council (MVDC) or by reading the Business Rates 2014 leaflet (see 'Related Pages').
Transitional arrangements have existed for each of the valuation lists published since the abolition of general rates on the 31 March 1990. Information about the transitional arrangements for the 1990, 1995, 2000, and 2005 Valuation Lists can be obtained from the Revenues Section by writing to: MVDC, Pippbrook, Dorking, Surrey, RH4 1SJ or calling 01306 879293.
In his Autumn Statement the Chancellor announced that there would be an extension to the transitional relief scheme in respect of the 2010 Valuation List as the next revaluation has been postponed until 2017 and the original scheme ends on the 31 March 2015.
The announcement extends the existing transitional relief scheme for two years for properties with a rateable value up to and including £50,000. As a result of this small properties with a rateable value of less than £18,000 that would have faced bill increases above 15% and medium sized properties with a rateable value of £50,000 or less that would otherwise face increases above 25% will benefit.