Minister Rebecca Evans MS has announced that the Welsh Government will be providing an additional package of non-domestic rates support worth more than £460m over the next two financial years and will freeze the non-domestic rates multiplier for 2023-24. The next non-domestic rating list will come into force on 1 April 2023, following revaluation. The Welsh Government will provide all ratepayers whose liability is increasing by more than £300, as a consequence of revaluation, with transitional relief. Any increase in non-domestic rates liability as a result of revaluation will be phased in over two years.
A ratepayer will pay 33% of their additional liability in the first year (2023-24) and 66% in the second year (2024-25), before reaching their full liability in the third year (2025-26). The Welsh Government is providing £113m over two years to fund this relief, supporting all areas of the tax-base through a consistent and straightforward transitional scheme. The draft Non-Domestic Rating (Chargeable Amounts) (Wales) Regulations 2022 have been laid before the Senedd. Subject to the approval of the Senedd, the Regulations will come into force on 31 December 2022 and provide for transitional relief from 1 April 2023. In addition, the Welsh Government will also be providing over £140m of non-domestic rates relief for retail, leisure and hospitality businesses in Wales. Eligible ratepayers will receive 75% non-domestic rates relief for the duration of 2023-24. Like the similar scheme announced by the UK Government, the Welsh Government’s Retail, Leisure and Hospitality Rates Relief scheme will be capped at £110,000 per business across Wales. Comparable support to that provided in other parts of the UK. T