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An overview of how Business rates have changed in 2023.

In 2023, there have been a number of changes to business rates. The most significant change is the freezing of the business rates multiplier. This means that the amount of business rates that businesses pay will not increase in line with inflation. This is a welcome relief for businesses, as it will help them to cope with the rising cost of living.


Another change to business rates in 2023 is the introduction of a new relief for small businesses. This relief will provide businesses with a discount on their business rates bill if they have a rateable value of less than £12,000. This relief is expected to benefit around 1.5 million small businesses.


The government has also announced a number of other measures to help businesses with their business rates bills. These measures include:

  • A new relief for businesses that are located in Enterprise Zones.

  • A new relief for businesses that are located in areas of high unemployment.

  • A new relief for businesses that are investing in new equipment or training.

These measures are designed to help businesses to reduce their business rates bills and to make it easier for them to operate profitably.

The changes to business rates in 2023 are a positive step for businesses. The freezing of the business rates multiplier and the introduction of new reliefs will help businesses to cope with the rising cost of living and to make it easier for them to operate profitably.


Here are some additional details about the changes to business rates in 2023:

  • The business rates multiplier is frozen at 49.9p for small businesses and 51.2p for standard businesses. This means that the amount of business rates that businesses pay will not increase in line with inflation.


  • A new relief for small businesses is introduced. This relief will provide businesses with a discount on their business rates bill if they have a rateable value of less than £12,000. This relief is expected to benefit around 1.5 million small businesses.


  • The government announces a number of other measures to help businesses with their business rates bills. These measures include a new relief for businesses that are located in Enterprise Zones, a new relief for businesses that are located in areas of high unemployment, and a new relief for businesses that are investing in new equipment or training.

Small rates support relief

Small rates support relief is a discount on business rates that is available to businesses with a rateable value of less than £12,000. This relief was introduced in 2023 to help small businesses cope with the rising cost of living.

To be eligible for small rates support relief, businesses must meet the following criteria:

  • They must be a non-domestic property.

  • They must have a rateable value of less than £12,000.

  • They must be occupied by a business.

Businesses that meet these criteria will receive a discount on their business rates bill. The amount of the discount will depend on the rateable value of the property.


Transitional relief

Transitional relief is a measure that helps businesses to cope with the impact of a revaluation of business rates. A revaluation is a process that happens every five years, and it involves reassessing the rateable value of properties. This can lead to changes in business rates bills, and transitional relief helps to mitigate these changes.

To be eligible for transitional relief, businesses must meet the following criteria:

  • They must have a rateable value that has increased as a result of a revaluation.

  • They must have been in occupation of the property on the day before the revaluation took effect.

Businesses that meet these criteria will be able to claim transitional relief for a period of up to five years. The amount of relief that businesses receive will depend on the size of the increase in their rateable value.

Both small rates support relief and transitional relief are designed to help businesses to cope with the cost of business rates. These measures can provide significant financial support to businesses, and they can help businesses to remain competitive and profitable.




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