Welsh properties with RV above £500k excluded from latest retail relief

Wales has amended its retail relief following the announcement last week, to exclude hereditaments above £500,000 Rateable Value.

The Welsh Government has decided to make one adjustment to the Non-Domestic Rates (NDR) Relief for the hospitality, retail and leisure sector announced last week: 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 £117 million to kickstart the economic crisis fund.

Those affected will be informed in writing and the businesses will have the option to apply for discretionary funding to offset some of the costs of NDR, if they have a strong case. Further information on Non-Domestic Rates and the support provided by the Welsh Government can be found at: https://businesswales.gov.wales/business-rates-relief-in-wales

Here is the latest link – https://gov.wales/coronavirus-covid-19-support-businesses while the full guidance to be found here: