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.”

Blake Morgan committed to 29,000 sq ft office in the exciting Central Square development. We retained Ben Bolton and his team some time ago to advise and appraise options in the lead up to this significant move of our Cardiff Office. The business is extremely pleased with the outcome and Ben's negotiations and attention to detail was a major part to this.

Philip Jardine, Blake Morgan LLP