Business Rates Relief

Business Rates Relief

 

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