Posted: Fri 13th Dec 2013

Local business rates schemes expected to be endorsed next week

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Friday, Dec 13th, 2013

Two schemes benefiting local businesses will be formally endorsed by members at the next Cabinet meeting on Tuesday 17th December.

Screenshot from 2013-12-13 16:19:53 ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The schemes, announced in a recent statement to Welsh Assembly Members, are in response to recommendations from the Business Rates Task and Finish Group that examined how the business rates system in Wales could be used to encourage economic development. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Open for Business focuses on bringing long-term unoccupied retail properties back into use by providing 50% rate relief for all eligible properties for up to 12 months from the date of occupation. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

To qualify a property will have had to have been empty for a continuous period of 12 months , have a rateable value of £45,000 or less and be first occupied after 1 October 2013. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

There are currently 560 empty properties in Flintshire that could potentially benefit if they became re-occupied for retail purposes. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The second scheme, New Developments, is designed to encourage the building of commercial property. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

All newly built commercial property completed between 1 October 2013 and 1 October 2016 but still unoccupied will be exempt from paying business rates for the first 18 months. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​


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