Business rates

Local Revaluation Relief

Increases to your business rates could be capped if you occupy premises that have a rateable value of less than £100,000.

The Islington Revaluation Relief Scheme uses funding provided by the government to reduce increases in business rates for smaller businesses. This local scheme runs in addition to the government’s national Transitional Relief Scheme.

The rateable value of businesses determines how much Revaluation Relief can be awarded to reduce business rates. After both the Transitional Relief and Revaluation Relief discounts are applied, an increase in rates for businesses in the micro band and small band will be capped at 5% and those in the medium band will be capped at 6%.

 

Rateable Value

Cap

£12,000 to £27,999 (micro)

5%

£28,000 to £59,000 (small)

5%

£60,000 to £100,000 (medium)

6%

Over £100,000

Zero

 

 

 

 




Businesses are eligible for the Revaluation Relief Scheme if they: (i) qualified for the national Transitional Relief on 1st April 2017; (ii) are still trading and (iii) will be liable for rates on the date the award is made.

Although government funding for the scheme runs over four years, rates are likely to increase as there has not been enough funding provided to keep the caps at the same level until 2021. 



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