The Government has confirmed a new transitional scheme for the 2023 Rating List.
As in the past the scheme applies caps to limit increases in liability between the 2022/23 rate year and the periods from 2023/24 onwards on the following basis.
A large property is defined as one for which the Rateable Value (RV) is above £100,000.
A medium property is defined as one for which the RV is between £20,001 (£28,001 in London) and £100,000.
A small property is defined as one for which the RV is less than £20,001 (£28,001 in London).
Maximum Annual Increases in Rates Payable, excluding Inflation
| Rate Year | Large | Medium | Small |
| 2023/24 | 30.0% | 15.0% | 5.0% |
| 2024/25 | 40.0% | 25.0% | 10.0% |
| 2025/26 | 55.0% | 40.0% | 25.0% |
Transitional Support for Businesses losing SBRR or RRR at the Revaluation
The government is also protecting small businesses that, due to the revaluation, will lose their eligibility for either Small Business or Rural Rate Relief (SBRR or RRR).
The Supporting Small Business (SSB) scheme will provide over £500 million in support over the next 3 years to cap bill increases at £50 per month (£600 per year).
