Welsh Government’s £10m business rates scheme to help stores

The Welsh government has pledged £10m in funding relief for retailers adversely affected by business rates revaluation.

The scheme will support almost 15,000 high street businesses that will receive an increase in rates in April. Eligible retailers will receive up to £1,500 off their rate bill if they have a rateable value of £50,000 or less in the 2017-18 financial year.

Those with a rateable value between £6,001 and £12,000 will receive a reduction in their rates bill of £500 or, if their bill is less than £500, it will be reduced to nil.

Retailers with a rateable value between £12,001 and £50,000 that face an increase in April will receive a reduction of £1,500.

In January, Spar retailer Elfed Roberts, who runs two stores in Wales, found out that his business rates will double to £30,000 each in April.