The Retail Relief Scheme can help cut rates bills for retailers and food and drink premises
Rhondda Cynon Taf Council is helping local businesses ‘move with the times’ by giving rate relief thanks to funding from Welsh Government.
Cabinet has discussed how £8m funding across Wales from the Wales Retail Relief Scheme can help cut rates bills for retailers and food and drink premises across the County Borough.
Cabinet Member for Economic Development and Planning, Cllr Robert Bevan,, said: “The purpose of this scheme is to support businesses that are responding to the challenges as a result of the changing retail environment.
“With the growing trend for Internet Shopping, many high street traders are having to adapt to changing consumer preferences in how people shop.
“The scheme also aims to contribute to the development of sustainable and vibrant town centres and we are delighted to support that in Rhondda Cynon Taf.”
Welsh Government has announced that it will provide relief of up to £1,000 on the business rates bill for all occupied retail properties with a rateable value of £50,000 or less in the 2014/15 financial year (subject to State Aid limits).
The properties must by wholly or mainly used as retail premises, such as shops, restaurants, cafes and drinking establishments.
A comprehensive list is available on the Business Rates Page although it is not possible to list every category of premises that will qualify.
The Council will ultimately determine whether a particular property qualifies for Retail Relief following a formal application. Any relief awarded will be deducted directly from the rates bill and a new demand for any balance outstanding will be issued to the ratepayer.
In addition to this, the Welsh Government has announced a ‘Local Needs Scheme’ which provides a further £3.5m funding across Wales for Councils to provide additional, targeted rare relief to business rate payers, although the details of this scheme are yet to be finalised.