Posted: Sun 19th Feb 2017

Traders on Deeside high streets to get help with business rates.

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Sunday, Feb 19th, 2017

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High street shops and pubs in Deeside could be in for a boost after the government announced details of a £10m business rate relief scheme for businesses in Wales.

Around 15,000 shops, restaurants, pubs and cafes in Wales are eligible to receive up to £1,500 off their non-domestic rates bill from April.

The scheme will also benefit those who have seen their rates increase as a result of the independent Valuation Office Agency’s (VOA) revaluation, which comes into effect on April 1.

The high street rates relief scheme will also provide support to other retailers – some of whom have seen their rates decrease as a result of revaluation – who are struggling in the face of economic conditions and competition from online and out-of-town providers.

Eligible retailers will receive up to £1,500 off their non-domestic rates bill if they have a rateable value of £50,000 or less in the 2017/18 financial year.[/vc_column_text][vc_message color=”info” message_box_style=”outline” style=”square”]The first tier of relief will apply to high street retailers with a rateable value of between £6,001 and £12,000 who are already receiving either small business rates relief (SBRR) or transitional rates relief.

They will receive a reduction in their rates bill of £500 or, if their bill is less than £500, it will be reduced to nil.

The second tier of relief will apply to eligible high street retailers with a rateable value of between £12,001 and £50,000 which are experiencing a rates increase from April 1.

These ratepayers will receive a reduction in their rates bill of £1,500.

They will receive a higher level of support to reflect the fact they are not receiving other support, such as SBRR, and may be facing large increases in their rates following the revaluation.

High street rates relief is unique to Wales and will provide crucial support to small and medium businesses at this time – it is estimated that this will benefit almost 15,000 businesses.

The targeted rates relief scheme will be provided through a special grant made to each local authority.[/vc_message][vc_column_text]The new scheme is in addition to the £10m transitional relief scheme, which will also be available from April 1 and the £100m tax cut for small businesses in Wales provided by small business rates relief.

The move will make a make a positive difference to traders on Deeside’s high streets says local assembly member Carl Sargeant

Carl Sargeant AM said:

I know from my caseload that business rates can be a worry to small businesses, and some retailers have also been concerned about increases in their rates as a result of the VOA’s revaluation.

This new scheme is in addition to the £10m transitional relief scheme, which will also be available from April 1 and the £100m tax cut for small businesses in Wales provided by small business rates relief.

This will make a positive difference to traders on Alyn and Deeside’s high streets. It shows that the Welsh Government is listening to feedback and is trying to make the scheme as fair, reasonable and transparent as possible.

Retailers can find out whether they are eligible for the high street rates relief scheme in 2017-18 by contacting Flintshire Count Council 

Still questions over High Street Rate Relief.

Welsh Conservatives have questioned the move, they believe that many questions remain over eligibility criteria for the scheme which is due to come into force within weeks.

Nick Ramsay AM said:

Whilst we welcome the additional funding there are still questions over eligibility, and in particular what constitutes a ‘High Street’, and it is far from clear that this money is targeted only at businesses who have been adversely affected by the recent revaluations.

These schemes need to be in place within weeks, which puts local authorities under significant pressure.

That’s why Labour’s painfully slow response to the revaluations has been so disappointing, adding to the anxiety felt by the worst affected.

Councils will need clear guidance and leadership from the Welsh Government to ensure that small firms get the support they need in the short term.

However, this debacle underlines the need for a fundamental debate about the kind of permanent scheme we want to see in the future.”

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