Transitional relief scheme for 2023 onwards
The new Rateable Values (RVs) that came into effect from April 2023 saw a number of winners whose RVs go down and a number of losers whose RVs go up. In order to mitigate the immediate effect of RV increases the Government has continued a transitional scheme for the 2023 rating list.
The transitional relief scheme means that large increases in rating liability (from an increase in RV at revaluation) are phased in.
If applicable, transitional relief is automatically applied to your account – you do not have to apply for it.
For each rating list Government sets the amount by which a property’s rates increase by (plus inflation), depending on the rateable value of the property. The maximum increase amounts for the 2023 rating list are as follows:
| Year | RV <£20K | RV >£20K & <£100K | RV >£100K |
|---|---|---|---|
| 2023/24 | 5% | 15% | 30% |
| 2024/25 | 10% | 25% | 40% |
| 2025/26 | 25% | 40% | 55% |