The go-ahead has been given in Flintshire to introduce a Welsh Government-funded scheme that will provide additional business rate relief to Flintshire high street retailers over the next year.
The scheme will support many high street retailers, including restaurants, pubs and cafes, especially those which have seen their rates increase as a result of the independent Valuation Office Agency’s (VOA) revaluation, which came into effect in April.
The Welsh Government backed scheme is set to provide up to £1,500 of rate relief during 2017/18 to businesses occupying high street retail properties with a rateable value of £50,000 or less, including those businesses who have been adversely affected financially by the recent revaluation.
To maximise the amount of support which can be provided and ensure it is targeted at areas and businesses most in need, there will be two tiers of relief available.
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. These ratepayers will receive a reduction in their rates bill of £1,500.
Further details regarding the scheme, full qualifying criteria and an application form is available by accessing information here.