Advertisment
NEWS

Cabinet approves rate relief scheme for retail, leisure and hospitality businesses

Cabinet approves rate relief scheme for retail, leisure and hospitality businesses

By All About Newtown

6 months ago 1068 views

...

A rate relief scheme to support businesses in Powys that are in retail, leisure and hospitality sectors for the next financial year has been adopted, the county council has said

The Business Rates Retail, Leisure and Hospitality Rates Relief scheme for financial year 2023-24, which will be administered by Powys County Council, was adopted by Cabinet this week (Tuesday, March 7).

The scheme will support Powys businesses in recovering from the impacts of the pandemic and the ongoing economic challenges including high inflation rates.

The Welsh Government scheme is offering eligible occupied businesses a discount of 75% on the business rates bill for a property. The scheme will apply to all eligible ratepayers with a relief cap for all your business properties up to a £110,000.

The council will receive funding of up to £4.9m in the way of a Welsh Government grant for the scheme. It is estimated that 900 businesses in Powys may be entitled to the 75% rates relief.

The business must be in the retail, leisure, hospitality or tourism sectors, for example shops, pubs and restaurants, gyms, performance venues and hotels.

The rate relief scheme will be available for the period 1 April 2023 until 31 March 2024. Businesses who meet the eligibility criteria must apply for this rate relief.

Cllr David Thomas, Cabinet Member for Finance and Corporate Transformation, said:

"It is a real difficult time for those businesses in the retail, leisure and hospitality sector that currently face challenging economic times at the same time as trying to recover from the effects of the pandemic.

"I'm delighted that Cabinet have adopted this new rate relief scheme which will help support Powys businesses in these sectors.  I would urge those businesses to apply for this rate relief when it opens next month."

Further information on the scheme, including the application form and how to apply, can be found online at Business Rates: Retail, Leisure and Hospitality Rates Relief 2023 / 2024


Related or similar stories based on this one

Image for the article Hundreds of businesses receive rate relief support
Hundreds of businesses receive rate relief support

4 months ago

Image for the article New vision to secure a bright future for Wales’ retail sector
New vision to secure a bright future for Wales’ retail sector

1 year ago

Image for the article Freedom Leisure finishes the year with 93k deficit
Freedom Leisure finishes the year with 93k deficit

3 weeks ago

Advertisment
Follow us

Connect with us on Facebook, Twitter and Instagram

   

Trending
 
Councillors to discuss nuisance birds
 
Regional politicians express shock over arts funding cuts
 
Noise complaints strike again at Food Festival
Donate to us

We're a not-for-profit community interest company and have no corporate owners. We'd appreciate anything you can give to keep us providing free content.

  Donate via PayPal
Upcoming Events
5k Colour Run

01/10/23 11:00am Dolerw Park

MADE IN DAGENHAM The Musical

05/10/23 07:30pm The Hafren

MADE IN DAGENHAM The Musical

06/10/23 06:30pm The Hafren

Latest Stories
 
MS weighs into farm sale controversy
 
Noise complaints strike again at Food Festival
 
Councillors to discuss nuisance birds