Currently all businesses meeting these thresholds enjoy the relief. However, the new scheme will limit the relief to two properties per business in each local authority area..
Maintaining the existing thresholds and applying this restriction will give a reduction in SBRR of £7M which will be targeted at other areas of relief:-
- Increased support for the childcare sector increasing the upper threshold for rate relief from £12,000 RV to £20,500 RV.
- £5M of support to continue the temporary High Street Rates Relief scheme into 2018/2019.
- An additional £1.3M funding to local authorities, for them to use their discretionary powers to provide targeted relief to support local businesses which would benefit most from additional assistance..
- Targeted support for small hydro-power projects.
This continues the Welsh Government’s theme of targeting specific sectors of the Welsh economy.
One concern would be if publicity focuses on the higher thresholds in England: full SBRR up to £12,000 RV tapering up to £15,000 RV. However, any headline comparison could be construed as unfair due to the differing property value profile in England and the wider linking of business premises restricting the application of the relief.