Wales extends rates relief holiday for a further 12 months

4 March 2021

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Welsh Finance Minister Rebecca Evans has confirmed that the business rates holiday for the retail, leisure and hospitality sectors in Wales will be extended for a further 12 months.

The £380m packages provides non-essential retail businesses with retail values up to £500k, as well as charities in Wales, with 100% business rates relief for a further 12 months. The Minister also committed to providing businesses and charities in the leisure and hospitality sector with a rateable value of more than £500k with 100% rates relief for 2021-22.

In yesterday’s budget, the UK Chancellor extended the 100% business rates relief for the sector in England until the end of June 2021.

He also pledged an extra £740m in funding for the Welsh Government.

Business Rates Director, Andrew West commented, “It is very pleasing that the Welsh Government has moved swiftly to confirm the year-long extension of 100% business rates relief for most of non-essential retail. This will provide certainty and remove a considerable burden from the struggling sector.

“Both Wales and Scotland have now gone further than England with this relief scheme.”

Cooke & Arkwright have been providing Newport City Council with rating advice for over 20 years. Andrew, Jane and Huw provide a personal and professional service and have an excellent knowledge of the Council’s assets which has enabled the Council to achieve substantial rate savings. A useful service offered is the status report which provides us with a snapshot of what appeals have been made and appeals outstanding throughout the life of the List. I would recommend Cooke & Arkwright Rating Services to any company wishing to procure up-to-date and professional rating advice.

Eirian Jones, Estates Team Leader, Newport Norse