Carmarthenshire Council agrees new rate relief scheme for retailers
The county council has agreed to adopt a Welsh Government business rate relief scheme, worth an estimated £488,000 for qualifying ratepayers in Carmarthenshire.
Shops, pubs, restaurants and cafes in town centres could be amongst those eligible to apply for reduced business rates under the scheme, established to support those that have seen their rates increase as a result of the 2017 revaluation undertaken by the Valuation Office Agency.
The council’s Executive Board agreed to adopt the scheme at its meeting this week.
Councils do not have to grant the relief, but can choose to do so if it supports wider objectives for the local area.
The council will now be able to offer two tiers of relief for existing businesses – the first tier for those that have a rateable value of between £6,001 and £12,000 for the financial year 2017-18 and who already receive Small Business Rates Relief or Transitional Relief.
The second tier applies to retailers whose property has a rateable value between £12,001 and £50,000 for the financial year 2017-18 who do not receive any form of rate relief and whose rates have increased.
Premises will not be eligible if they are unoccupied, inaccessible to the public, situated in an out-of-town development, or are a charity which already qualifies for relief.
Empty properties becoming occupied after April 1, 2017, and ratepayers that occupy premises with a Rateable Value exceeding £50,000, will not qualify for the relief.