Council Leader Welcomes Business Rate Relief Announcement
Council Leader Andrew Morgan has described the decision of the Welsh Government to make its Business Rate Relief scheme a permanent arrangement as a major boost for businesses across Rhondda Cynon Taf.
Thousands of businesses across the county borough will continue to benefit from up to 100 per cent discount on their Business Rates as a result of the decision.
Over two thirds (2,815) of the 3,820 businesses in Rhondda Cynon Taf that currently benefit from Business Rate Relief receive the maximum 100 per cent discount, meaning they are not paying any business rates at all.
The remaining 1,111 businesses receive rate relief based on their rateable value.
The £98m scheme for Wales will be extended for 2017-18, with a new permanent scheme coming into force from 2018. Under the current system, business premises with a rateable value of up to £6,000 receive 100% relief, while those with a rateable value between £6,001 and £12,000 receive relief on a tapered basis from 100% to zero. These arrangements are being extended to 2017-18.
County Borough Councillor Andrew Morgan, Leader of Rhondda Cynon Taf County Borough Council said:
“This is announced will be welcomed by thousands of business across Rhondda Cynon Taf.
“The huge majority of RCT businesses that are eligible for rate relief receive the maximum 100 per cent reduction, meaning they do not pay rates at all.
“Others can secure discounts of up to 50 per cent on their rates, which is a huge benefit when you are running a small local business.
“The decision to make the Business Rate Relief scheme permanent is a huge reassurance to the thousands of small businesses already benefiting from the reduction, or removal, of rates.
“It will also serve as an incentive to others who may be looking to open a business, particularly those which have a rateable value of £6,000 and under.
“While the local authority collects these rates, we have no responsibility for the level of rates or the policy, however the cost of Business Rates is one of the key issues town centre traders in particular raise with me in our wider decisions around supporting our high street economy. Small business across RCT also raise the same issue with me as Business Rates can often represent a high proportion of the cost of running any small business.
“This announcement today provides surety for those businesses to plan knowing that the relief offered by Welsh Government to improve the local economy of Wales will become a permanent arrangement.”
Spotted something? Got a story? Email News@News.Wales
