Dec 20, 2018 | Retail
Welcome for Wales rates relief extension
Retailers have welcomed confirmation from the Welsh government that it will extend its high-street rates relief scheme for 2019-2020.
Eligible businesses will get up to £2,500 off their business rates bills, with properties with a rateable value of up to £9,100 paying no rates at all.
The Welsh government estimates 15,000 retailers in Wales with a rateable value of up to £50,000 will benefit from the scheme.
It has also announced that local authorities will receive an additional £2.4m to provide discretionary rates relief where it is deemed necessary.
Association of Convenience Stores (ACS) chief executive James Lowman said: “Convenience stores and other small businesses in Wales will welcome this additional rate relief scheme, which will help retailers invest in improving their businesses in the future.
“ACS is part of the Cross Party Group on Small Shops, whose Supporting Entrepreneurship Inquiry highlighted the importance of using the business rates system to incentivise growth and investment.
“We are pleased the Welsh government remains committed to this, but urge them to ensure local authorities make good use of the additional discretionary funds that are being made available.”.
There are 2,923 convenience stores in Wales, more shops per head than in any other part of the UK, according to the ACS 2018 Local Shop Report. According to a House of Commons Library Briefing Paper (published August 2018), there are 906 sub post offices (either standalone or part of a c-store or other retail offer) in Wales.