Business rate relief hopes
NEARLY 500 business could benefit if the council introduces its own local business rate relief scheme in RCT. It would offer businesses up to £300 to help with their rates and would run in addition to the Welsh Government’s scheme.
NEARLY 500 business could benefit if the council introduces its own local business rate relief scheme in Rhondda Cynon Taf.
A survey carried out into people’s views on the proposed Local Business Rate Relief scheme showed that most of those who responded supported the idea.
It would offer businesses a maximum of £300 to help with their business rates and would run in addition to the Welsh Government’s High Street and Retail Rate Relief (HSRR) scheme with the same criteria being applied.
Back in November, cabinet agreed to consult with the public on the proposal to introduce its own scheme to help business with their business rates and the council thinks as many as 485 businesses in RCT could benefit from this.
Where the rates bill is under £300 after the Welsh Government scheme and any other applicable reliefs are applied, the rates bill will be reduced to zero.
The consultation took place for eight weeks between the start of December and the end of January with 26 people responding online.
Of these, 96% agreed that the council should continue to support town centres and retail businesses within Rhondda Cynon Taf.
Also, 84% of those who responded agreed that providing additional support towards the payment of business rates through a local discretionary relief is a positive way of helping sustain town centres and retail businesses.
Just under 77% of them agreed with the proposal to use the same qualifying criteria for this local scheme as that used for the Welsh Government
High Street and Retail Rate Relief Scheme.
And 62% of respondents agreed that £300 per qualifying business is an appropriate discretionary relief.
The Welsh Government scheme for 2020-21 will remain the same as this year’s with a maximum contribution of £2,500 to qualifying businesses with a rateable value of £50,000 or less.
The cabinet report says: “This local discretionary business rates relief scheme would provide important additional financial support for local businesses to meet their 2020-21 rate liability and forms part of a wider package of support intended to create and maintain vibrant town centres across Rhondda Cynon Taf, which is something that this council has committed to in its corporate plan.”
The council’s cabinet is due to consider today if and how it wants to take the local scheme forward.