Wales extends rates relief

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Llanberis High Street in Wales. Photo: iStock

Welsh government has announced an extension to the High Streets and Retail Rates Relief scheme for 2020-21.

The scheme reduces rates bills to zero for retail properties with a rateable value up to £9,100. It will provide support of up to £2,500 towards the rates bills for retail properties with a rateable value of up to £50,000.

“We will make an £24.2 million of support available in 2020-21 through the high street and retail rates relief scheme to support Welsh businesses. This is in addition to the more than £230 million we provide through our other reliefs to help businesses pay their rates bills,” Finance Minister Rebecca Evans said in a statement.

The scheme is expected to provide support to over 15,000 small and medium-sized businesses.

The Welsh government has also announced a further £2.4 million to local authorities to provide additional discretionary rates relief for local businesses and other ratepayers