Business rates holiday extended for 12 months

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

The £380m package provides retail, leisure and hospitality businesses with rateable values up to £500k, and charities in Wales with a straightforward year-long business rates holiday providing a much-needed boost for small and medium sized businesses struggling to cope with the impacts of the pandemic.

This relief package, in combination with our existing Small Business Rates Relief scheme will ensure that more than 70,000 businesses will continue to pay no rates at all in 2021-22.

The Minister has also committed to providing businesses and charities in the leisure and hospitality sector with a rateable value of over £500k with 100% rates relief for 2021-22 too.

Read the  Welsh Government Press Release here 

Posted on: Monday 8th March 2021