Will Wales align with Scotland or England on rates relief?

3 March 2021

Share this

In his Budget statement today, Chancellor Rishi Sunak confirmed an extension of the 100% business rates relief for eligible retail, hospitality and leisure businesses in England from 1 April 2021 until the end of June 2021.

After this period, 66% business rates relief will apply between 1 July 2021 and 31 March 2022, capped at £2m per business for properties that were required to be closed on 5 January 2021, or £105,000 per business for other eligible properties.

The Chancellor also announced an extra £740m in funding for the Welsh Government, which has yet to announce any extension on business rates relief in Wales.

Business Rates Director, Andrew West commented, “The extension to the relief is logical and welcome. However, it will inevitably be compared with the equivalent scheme in Scotland, where it was previously announced the relief will be extended for the full rate year.

“The Welsh Government have yet to make an announcement, but it is hoped they will align with Scotland rather than England and consider extending targeted relief to other beleaguered sectors such as aviation.”

Barclays have a long standing relationship with Cooke & Arkwright who continue to provide us with first class service and advice.

Steve Thomas, Director Real Estate Team, Barclays, South West and Wales