Business rate relief for companies going green

24 March 2022
  • Business Rate advice Cooke & Arkwright

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In his Spring Statement on Wednesday 23rd March, the Chancellor announced two new business rates reliefs in England which came into effect in April 2022.

There is an exemption for a range of green technology and storage, such as rooftop solar panels, wind turbines and battery storage used with renewables.

Eligible low carbon heat networks with their own rates bill also receive 100% relief. The exemptions will last until March 2035. They were included in the Government’s Business Rates Review final report and this announcement brings them forward by one year. However, they will not apply in Wales, where Business Rates are devolved.

The support for SMEs comes on top of 50% business rates relief for eligible retail, hospitality and leisure properties coming into effect this April. This is capped at £110,000 and is also available in Wales.

Cooke & Arkwright has advised Telereal Trillium on a wide variety of development sites and properties all over Wales . They consistently deliver the levels of local knowledge, expertise, initiative and successful outcomes that you need when running a large UK wide portfolio.

Mark Kelly, Director, Development & Disposals, Telereal Trillium