Carmarthenshire retailers could get £1,000 rates boost
11:50am Friday 30th May 2014 in News
HUNDREDS of retail businesses across Carmarthenshire could qualify for up to £1,000 off their rates.
A Welsh Government scheme aims to provide targeted assistance to those in the retail sector who qualify for the help.
The scheme has been offered to councils to distribute if they choose to do so, Carmarthenshire’s Executive Board will take the decision at their next meeting on Monday, June 2.
To qualify for the reduction in business rates, the rateable value of the property cannot be over £50,000, and it has to be used wholly or mainly for retail.
Under the scheme, retail is described as the sale of goods, food, drink or certain other services such as hairdressers, travel agents and estate agents offered to the public.
Ratepayers with more than one qualifying property will be subject to State Aid limits and will need to include State Aid declarations with their applications.
If Carmarthenshire decides to adopt and administer the scheme, it will be fully funded by the Welsh Government.
Executive Board Member for Resources Cllr Jeff Edmunds said: “I will be recommending to my colleagues on the Executive Board that we formally adopt this scheme which can potentially help a large number of retailers in the county.
“The indications are that around 650 businesses could benefit from this reduction in their business rates.
“In my opinion, this scheme should be very much welcomed as one of the ways we can support businesses in our county.
“During this financial recession, it is more important than ever that we do all we can to help.”
A report, which will go before the Executive Board, will be published on the council website at www.carmarthenshire.gov.uk from next week.
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