Derek Mackay, Cabinet Secretary for Finance and the Constitution, has today announced additional support for businesses following the rates’ revaluation. These measures will apply for one financial year. Thereafter, Mr Mackay will consider the findings of the Barclay Review which is due to be published in the summer.
The full note which was released following Mr Mackay’s speech is attached here: scotland index
1. Rates increases for hotels, cafes, restaurants and pubs capped at 12.5%
2. Rates increases for offices in Aberdeen and Aberdeenshire capped at 12.5%
a. Eligibility threshold to qualify for community renewables relief reduced from 1MW to 0.5MW (100% relief for rateable value of up to £145,000 with stepped relief down to 2.5% where rateable value is more than £4 million)
b. Continuation of New Build hydro relief (10% relief if rateable value is up to £500,000 and 1.5% if rateable value is higher)
c. Rate increases for hydro schemes under 1MW capped at 12.5%
d. 50% relief for district heating rates.