Pandemic-hit traders to get 100 per cent rates relief
More than 1,380 business leaders across Mid Wales will pay no business rates over the coming year, county councillors will hear tomorrow.
The full, 100 per cent rate relief will go to businesses in the retail, leisure and hospitality industries that have borne the full force of the lockdown restrictions brought in to tackle coronavirus.
Powys County County meets tomorrow to be told of the grant funding that it will administer if councillors give the go-ahead.
A report to council says the funding will be provided by way of a Welsh Government Grant and so will not have an impact of its budget.
“It is estimated that 1,380 Powys businesses could automatically be awarded the 100 per cent rates relief, estimated at total value of £11.45million on their Business Rates annual bills due to be issued in coming days,” the report to councillors says.
“It removes the requirement to pay business rates for these Powys businesses for the financial year 2021-22.”
Councillors will be told that the Business Rates Retail, Leisure and Hospitality Rates Relief scheme for financial year 2021-22 is available for businesses that meet the requirements.
The aim is to support Powys businesses during the continuing coronavirus pandemic by granting rate relief which is compliant with Welsh Government guidance.
In the report, officers say: “Due to the ongoing coronavirus pandemic and the impact on the economy the Welsh Government has introduced several fiscal measures to support businesses and ratepayers through these unprecedented times.
“The current Retail, Leisure & Hospitality Rates Relief scheme for 2020-21, has been extended with a further temporary Business Rates Retail, Leisure and Hospitality Rates Relief scheme for the financial year 2021-22.”
“The Welsh Government have announced that this rates relief scheme will be available for the financial year 2021-22 to support businesses within the retail, leisure and hospitality sector in Wales.
“Properties that will benefit from this relief will be occupied properties such as shops, pubs, restaurants, gyms, performance venues, hotels, and guest houses. with a rateable value of £500,000 or less. Powys is to receive funding of up to £11.55 million.”
The report adds: “The funding will be provided by way of a Welsh Government Grant, and it is estimated that 1,380 Powys businesses could automatically be awarded the 100 per cent rates relief, estimated at total value of £11.45million on their Business Rates annual bills due to be issued in coming days, removing the requirement to pay Business Rates for these Powys businesses for the financial year 2021-22.”
