Business rates relief to continue until next year in Wales

BUSINESS rates relief for retail, leisure and hospitality businesses is to continue in Wales until April next year – as full discounts in England come to an end tomorrow.

In March, the UK Government announced its 100 per cent retail, leisure and hospitality rates relief holiday would reduce on June 30, with a 66 per cent discount coming into effect for the rest of the financial year.

The Welsh Government has extended the full 100 per cent discount for all businesses and charities in the leisure and hospitality sectors until April 2022.

Retailers in properties with a rateable value of up to £500,000 will also continue to receive full discounts on their rates for the remainder of the year.

The £380 million package is providing small and medium sized businesses in Wales struggling to cope with the impacts of the pandemic a much-needed boost.

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It operates in addition to the permanent relief schemes, which are providing £240 million of relief to ratepayers across Wales this year.

Minister for finance and local government, Rebecca Evans said: “As bills start to land in England, we’re reminding retail, leisure and hospitality businesses in Wales they won’t need to pay rates until April 2022.

“We’ve listened to the sectors and want to help shops and venues get back on their feet. Even though these businesses can now open, the difficulties of the last year, coupled with the restrictions that remain in place, mean many would still struggle to pay even some of their usual rates.”

Minister for the economy, Vaughan Gething said: “Our 100 per cent rates relief discount is a vital part of the economic support package we’ve made available to help businesses across Wales, giving them the breathing space they need to focus on recovery.

“Since the start of the pandemic, we’ve backed Welsh businesses with £2.5 billion in support, which has helped protect in excess of 160,000 Welsh jobs which might otherwise have been lost.”

South Wales Argus | Business