Business rates: Transitional Relief
Welsh Government has introduced a scheme to help protect small businesses from the impact of the revaluation, limiting the increase in the amounts payable. The scheme is designed as follows.
- The limit on increases in the rates bill from 2016/17 to 2017/18 will be capped at 25% above £100
- Any increase in the rates payable up to £100 will receive no transitional relief
- The transitional relief is linked to the account as at 1st April 2017 so any change in liability eg a change in occupiers will cease the relief from the date of change
The qualification criteria is as follows:
- The Property must have received Small Business Rates Relief on 31st March 2017 (Please see section above on Small Business Rates Relief)
- The Ratepayer must have had an increase in the annual bill greater than £100
- The Property must be occupied on 31st March 2017 and 1st April 2017
- No Transitional Relief is payable on empty properties
- Any changes in liability ie property becoming empty or change of occupier will cease the relief
There is no need to apply for this relief as the New Year amount will be automatically calculated. However if you believe you should have qualified but have not received any relief and want us to review your case please contact us at: email@example.com or telephone 01824 706000
Transitional relief lasts for 3 years.