This section will explain the Business Rates Relief available to businesses as a result of the Coronovirus outbreak, this is in addition to the Small Business Rates relief which is already in place across Wales.
The Welsh Government has announced a package of support worth more than £1.4bn for small businesses to help them during the coronavirus outbreak, this funding includes Rate Relief and a grant scheme, details of the grant can be found in the financial support section.
The new package includes a year-long business rates holiday for retail, leisure and hospitality businesses in Wales
Local Authorities will be looking to automatically award the business rates holiday to all eligible parties as soon as possible, and you will receive a new bill when the award has been made.
Guidance on eligibility for the relief can be found here.
As this will be automatically awarded we’d appreciate your patience in not following-up by phone. We very much appreciate the major challenges being faced by businesses, and staff will make every effort to get details to you as soon as possible.
Rate Relief for Premises over £500,000
The Welsh Government has decided to make one adjustment to the Non-Domestic Rates (NDR) Relief for the hospitality, retail and leisure sector announced last week: to not extend the 100% relief to the small proportion of properties with a rateable value of £500,000 and above.
This will affect fewer than 200 properties across Wales but will release approximately £117 million to kick-start the economic crisis fund. We will be writing to all of the businesses affected and making clear that they will be eligible to apply for discretionary funding to offset some of the costs of NDR if they have a strong case for this.
Further information on Non-Domestic Rates and the support provided by the Welsh Government can be found at the following link: https://businesswales.gov.wales/business-rates-relief-in-wales