Business Rates: Transitional Relief April 2023 - March 2025

Introduction

This transitional relief scheme was announced as part of the Welsh Government Draft Budget for 2023-24.

It will limit increases in NDR bills, as a result of the revaluation on 1 April 2023. An eligible ratepayer will pay 33% of their additional liability in the first year (2023-24) and 66% in the second year (2024-25), before reaching their full liability in the third year (2025-26).

The transitional relief is fully funded by the Welsh Government and defined in the Non-Domestic Rating (Chargeable Amounts) (Wales) Regulations 2022. The Regulations prescribe rules to calculate the chargeable amount for properties with increased NDR liability of more than £300, as a result of the revaluation. The relief is available to ratepayers on the local list and on the central list.

The transitional relief scheme-

Further details can be found at Non-Domestic Rates - Transitional Rates Relief for the 2023 Revaluation | Business Wales (gov.wales)