Business rates will be changing on 1 April 2017 and this is likely to create some winners and losers: many London-based businesses will face sharp rate rises, although firms in the Midlands and the north will be largely unaffected or will see a reduction.
It has been seven years since all non-domestic properties in England and Wales were nationally revalued. The 2017 revaluation will be based upon rental levels at 1 April 2015 and will form the basis of business rates liability for the next five years. The changes include an increase in small business rates relief to £12,000.