More than 500 small and medium-sized businesses in Pembrokeshire can apply for rate relief of up to £2,500 thanks to a new scheme approved by Pembrokeshire County Council’s cabinet on Monday.
The extended High Street Rate Relief Scheme for 2019-20 will be funded by the Welsh Government and administered by Pembrokeshire County Council.
It aims to provide targeted support for businesses affected by the independent revaluation and by the growth of internet sites.
The Council estimates that 534 occupied high street businesses and retail properties such as shops, restaurants, cafes and drinking establishments will be eligible to apply.
Cllr Paul Miller, Cabinet Member for Economy, Tourism, Leisure and Culture, said: “It’s obvious to everyone that the retail landscape in particular is changing and taxes on bricks and mortar retail premises are, without doubt, in need of review given the dominance of internet shopping.
“As an administration we are committed to supporting the Pembrokeshire Economy in every way we can. Working with our partners in Welsh Government, we are able to offer up to £2,500 rate relief to retail properties with a rateable value of £50,000 of less. That’s in addition to Small Business Rate Relief for those businesses with a rateable value of £6,000 of less.
“Business rate relief is not a magic bullet and we are committed to doing far more to support enterprise through our ambitious economic development programme. This relief will however, provide some immediate support to business in Pembrokeshire.”
Unlike previous years, the 2019-20 scheme is not limited to high street premises but will include all properties meeting the wider retail criteria.
The level of support will be up to £2,500 towards non-domestic rates bills for retail properties with a rateable value of £50,000 or less on the 1st April 2019 subject to State Aid limits.
Those with a rateable value of £6,000 and below will receive Small Business Rate Relief.
For more information on the scheme, please view https://www.pembrokeshire.gov.uk/business-rates/wales-high-street-rate-relief-scheme
An enhanced high street rate relief scheme is set to benefit more than 500 businesses in Pembrokeshire.