The Welsh Government has announced that the high street rates relief scheme it launched in April 2017 wil be extended for a further year.
It said that the ‘enhanced scheme will go significantly further than in previous years, providing support to all retailers in Wales with a rateable value up to £50,000’. It will be fully funded by the Welsh Government and will reduce rates bills to zero for retail properties with a rateable value up to £9,100 and reduce bills by £2,500 for properties with a rateable value up to £50,000.
Andrew West, Rating Director at Cooke & Arkwright, said, “Although welcome, this is significantly less than the scheme in England where all high street retail assessments of £51,000 or less enjoy one third off their rates bill for the next two rate years of 2019/20 and 2020/21. This means a property with a rateable value of £50,000 will have a refund of £8,200 per annum in England compared with £2,500 in Wales.”