MANY businesses in Cumbria will see the rateable value of their premises fall following a revaluation next year, the government says.

Local Government Minister Marcus Jones has published a consultation on the revaluation of business rates, which he says will ensure bills accurately reflect changes in the property market.

In the North West, bills should fall by an average of 10 per cent before inflation and transitional relief, saving businesses £310m per year when the new valuations are applied in April.

And the government says that other measures will mean that 600,000 UK businesses pay no business rates at all.

Mr Jones said: “We are committed to helping all businesses flourish and as we make the system fairer up and down the country, nearly three quarters of companies will see no change, or even a fall, in their bills.

“For the small minority of businesses that do face an increase, we’re putting in place £3.4bn of transitional relief to provide vital support as they adjust to these changes.”

The government also says that businesses will benefit from a quicker, more efficient service when challenging business rates' valuations.

Businesses can check their draft valuation online at www.gov.uk/government/organisations/valuation-office-agency