Business Rates Relief
The Welsh Government has announced a package of support worth more than £1.4bn for small businesses to help them during the coronavirus outbreak, this funding includes Rate Relief and a grant scheme, details of the grant can be found in the financial support section.
The new package includes a year-long business rates holiday for retail, leisure and hospitality businesses in Wales.
Local Authorities will be looking to automatically award the business rates holiday to all eligible parties as soon as possible, and you will receive a new bill when the award has been made.
Rate Relief for Premises over £500,000
The Welsh Government has decided to make one adjustment to the Non-Domestic Rates (NDR) Relief for the hospitality, retail and leisure sector: to not extend the 100% relief to the small proportion of properties with a rateable value of £500,000 and above.
This will affect fewer than 200 properties across Wales but will release approximately £117m to kick-start the economic crisis fund. The Welsh Government will be writing to all of the businesses affected and making clear that they will be eligible to apply for discretionary funding to offset some of the costs of NDR if they have a strong case for this.
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