Rates relief for small business in Wales
increased between 1 October 2011 and 30 September
2012.
Business premises
with a rateable value up to £6,000 will receive 100% relief and
those with a rateable value between £6,001 and £12,000 will receive
relief that will be reduced on a tapered basis from 100% to
zero.
Illustration of approximate percentage
of tapered relief
Rateable
Value
% Relief
0-6,000 100
7,000 83.4
8,000 66.6
9,000 50.0
10,000 33.3
11,000 16.6
Where businesses receive a higher rate of
relief under the current scheme than under the enhanced scheme they
will receive the rate of relief most beneficial to them.
Ratepayers who have paid more than
their revised 2011 - 2012 bill will be credited against their
2012-2013 bill, or, if they prefer, they will be entitled to a
refund.
From 1 October 2012 the rates relief
thresholds and values that applied on 1 April 2008 will
apply.
Notes:
1. All business properties must be wholly
occupied to qualify for relief.
2. Properties not eligible for relief
include those occupied by a council, police authority or the Crown;
those occupied by charities, registered clubs, or not-for-profit
bodies whose main objectives are philanthropic, religious,
concerned with education, social welfare, science, literature or
the fine arts; beach huts; property which is used exclusively for
the display of advertisements, parking of motor vehicles, sewage
works or electronic communications apparatus.
3. The following will continue to get
relief as follows and will not be affected by the temporary
changes.
Premises with rateable value between
£10,501 and £11, 000 in receipt of 25% retail relief-. all
others will receive the enhanced relief. Post Offices in
receipt 100% or 50% relief: Registered Child Care premises with
rateable value £9,001 - £12,000 in receipt of 50% relief.