High street businesses in Newtown could be able to receive financial help towards business rates.
Businesses that are in receipt of small business rates relief or have seen their business rates increase because of revaluation which took place back in April 2017 could receive the help from Powys County Council.
The county council has secured funding from the Welsh Government to help with business rates for high-street retailers in 2018/19.
Cllr Aled Davies, Deputy Leader and Cabinet Member for Finance, said: “There are two levels of relief available. Support of up to £250 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 £750 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 town and village centres. Businesses that received this relief in 2017/18 have automatically been granted the relief for 2018/19, seeing 377 Powys retailers receiving a share of £128,000.
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 centres and industrial estates are also excluded. This detail can be accessed online at https://customer.powys.gov.uk/article/1034/High-street-Rates-Relief.
Alternatively, the council’s team which is administering this scheme can be contacted by email via revenues@powys.gov.uk
“I would urge all town and village retailers to take a look at this, as potentially, it will limit the amount of rates bill for 2018/19” The council will be writing to potential qualifiers in very near future,” added Cllr Davies.
The money provided by the Welsh Government is for use in 2018/19. 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 set is governed by Welsh Government.
