Business rates are based on valuations from the Valuation Office Agency and we do not intervene in their independent assessments. A £3.6 billion transitional relief scheme will provide support for the minority who do face an increase. London will benefit more than anywhere else in the country from the transitional relief scheme. In total properties in London will benefit from transitional relief worth over £1 billion over the life of the scheme.
From 1 April, we are permanently doubling the level of Small Business Rate Relief and increasing the thresholds to benefit a greater number of property occupiers. Eligible properties with a rateable value of £12,000 and below will receive 100 per cent relief. This means that 600,000 small businesses will pay no business rates at all.