Minister Announces Additional Rate Relief for Small Businesses

Wednesday 31st March 2010

Local Government Minister, Carl Sargeant has today announced an extension to the small business rate relief scheme in Wales.

The Minister has agreed that the measure announced in respect of England by the Chancellor of the Exchequer in his budget speech will apply in Wales.

Carl Sargeant said "This is excellent news for business in Wales. Around half of small businesses in Wales will pay no business rates for the year from 1 October 2010 and roughly 20% more will see their business rates significantly reduced.

"This is a real boost for small businesses across Wales. Most will get help with their rates and will see savings of up to £1,200."

Notes

The Non-Domestic Rating (Small Business Relief) (Wales) Order 2008 will be amended to increase the rateable value threshold at which properties qualify for 100% relief to £6,000 and a taper band of relief from 100% to 50% up to a threshold of £12,000 from 1 October 2010 for one year.

For more information please see BBC News.

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Minister Announces Additional Rate Relief for Small Businesses

Wednesday 31st March 2010

Local Government Minister, Carl Sargeant has today announced an extension to the small business rate relief scheme in Wales.

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