| Following on from statement on the Scottish Budget this week, here’s a summary for business rate payers:
Changes in poundage for Rateable Values (RV):
|
- The Small Business Bonus Scheme has been maintained, taking 100,000 properties out of paying rates.
- For the hospitality sector the Government is looking at targeted solutions to replace short-term reliefs.
- Still on hospitality businesses on the Scottish islands they will receive 100% relief (capped at £110K per business).
- The relief in Enterprise Areas will be phased out over the next two years rather than ending on 31 March, 2024.
- The Telecommunications Mast Relief extended to 31 March 2031.
- An extension of the 90% renewables District Heating relief until 31 March 2027, including all district heating networks where a minimum of 80% of the thermal energy generated is derived from renewables.
- The Budget maintains all other existing non-domestic rates reliefs for 2024-25.
- Empty Property Relief – remains devolved and at the discretion of individual councils.
You can read the full budget here: scottish-budget-2024-25