Retail businesses in Neath Port Talbot set for help with business rates

Neath Port Talbot Council has agreed to adopt a new discretionary financial support scheme for retail businesses in the county borough.

Approximately 550 retail businesses are set to benefit from more than £800k of grant funding provided by the Welsh Government.

The High Street and Retail Rates Relief 2020/21 scheme, which will be managed by the Council, will provide eligible businesses with a discount of up to £2,500 on their non-domestic rates bill. The type of businesses that will benefit from the scheme include occupied high street and retail properties such as shops, restaurants, cafes and drinking establishments with a rateable value of £50,000 or less.

Councillor Carol Clement-Williams, Cabinet Member for Finance, said:

“We are delighted Welsh Government has decided to extend the financial support for retail businesses for 2020 / 21.

“This will be welcomed by many of the small and independent retail businesses in Neath Port Talbot that will benefit from reduced running costs. The scheme is key to helping retailers to continue to provide essential goods and services to our local communities.

“We are committed to assisting businesses to help create and sustain local employment, and support the growth of the local economy.”

The discount is automatically granted to those businesses meeting the qualifying criteria and will be shown on the rates demand for 2020 / 21 being issued shortly. If additional information is needed by the Council to determine eligibility, an application form will be issued to the relevant business. If a business believes they meet the qualifying criteria but do not receive the discount automatically or receive an application form, they should contact the Business Rates Team on 01639 686843 or email business.rates@npt.gov.uk.

The decision to approve the scheme was made at the Council’s Cabinet meeting on Wednesday (12^th February).