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Help for retailers struck by business rate rise

Created on 03/04/2017 @ 10:29
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With some retailers facing a dramatic rise in their business rates this month following a re-evaluation throughout Wales and England, Powys County Council has today said it is offering financial support to those effected.

It is not known how many high street businesses in Newtown are affected by what some have described as steep increases from this week, but the county council is to use money provided by the Welsh Government to help limit the rises by offering high street retailers potential support of £500 for the 2017/2018 financial year

David Powell, the council’s strategic director of resources, said: “There are two levels of relief available. Support of up to £500 is available for businesses with a rateable value of between £6,001 and £12,000 and who are in receipt of small business rates relief while support of up to £1,500 is available for high street businesses with rateable values between £12,001 and £50,000 that have seen an increase in their liability from 1 April 2017.

“The relief is aimed at ‘high street’ retail businesses, which would include shops, restaurants, cafes and drinking establishments situated within Powys towns and villages.”

There are some limitations on the funding available and some businesses are not deemed retail (e.g. solicitors or financial services providers) Businesses located within out of town retail parks and industrial estates are also excluded.

This detail can be accessed online at Alternatively, the council’s team which is administering this scheme can be contacted by email via Mr Powell added:

“I would urge all town and village retailers to take a look at this, as potentially, it will limit the effects of increases which some businesses are seeing. The council will be writing to potential qualifiers in very near future.”

The money provided by the Welsh Government is for use in 2017/18. 

It is not known whether this money will be made available in subsequent years. Business Rates are collected by local councils but the rate at which they are set is governed by Welsh Government.

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