Latest News

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05.01.10

More Rate Relief for Businesses

Gower Assembly Member Edwina Hart has welcomed news that the Welsh Assembly Government is to provide further help for many of the small businesses who are facing an increase in their rates bill following a UK wide revaluation exercise.

Now, the Assembly Government has announced that it will increase the upper limits for each category of small business rate relief by at least 20% (see notes for details).

Edwina Hart AM said:

“This announcement will be a welcome and timely boost for small businesses in areas like Gower. It means that from next April over half of all business premises in Wales could qualify for this relief.”

The recent revaluation redistributes the rates payable between properties according to their relative values at the time of the revaluation. As a result, some rate bills will rise and some will fall, although over 60% of businesses will be benefiting from a reduction in the their rate bills as a result of the revaluation.

Notes: The upper rateable value limit for each category of relief will be as follows:

• Upper limit for 50% general relief increased from a rateable value of £2,000 to £2,400.

• Upper limit for 25% general relief increased from a rateable value of £6,500 to £7,800

• Upper limit for 25% retail relief increased from a rateable value of £9,000 to £11,000.

Also, in line with the UK Government’s pre-budget report, the rateable value threshold at which empty properties in Wales are excluded from liability for non-domestic rates will be raises from £15,000 to £18,000 for the next financial year.