Local businesses are being urged to check their new rateable values immediately to understand whether recent changes could increase their business rates bills.
Senedd Member Samuel Kurtz has warned that many firms may be unaware of how the updated valuations could impact them financially and is encouraging business owners to act quickly.
“Business rates are already a major burden for many local businesses,” Kurtz said. “With new rateable values now in place, it’s vital that businesses check their valuation as soon as possible to see whether it will affect what they pay. Too many businesses only realise there’s an issue when the bill arrives.”
Rateable values are used to calculate business rates and are based on factors such as rental values and property use. Changes to these valuations can result in higher bills, even where a business has not expanded or increased turnover.
Kurtz stressed that early action is key, particularly for small and independent businesses operating on tight margins.
“Checking your rateable value early gives you time to understand the changes, seek advice, and challenge the valuation if it appears incorrect. Waiting could mean missed opportunities to reduce costs or appeal.”
Businesses are also being encouraged to attend the local information event online to better understand reliefs, exemptions, and the appeals process.
“At a time when costs are rising across the board, businesses need clarity and support, not surprises. I would urge every business owner to take a few minutes to check their rateable value and make sure it’s right.”
Samuel Kurtz MS has also written to the Cabinet Secretary for Finance, Mark Drakeford MS, calling on the Welsh Government to follow the UK Labour Government’s apparent change of direction on business rates in England warning that rising rateable values are pushing Welsh businesses to the brink.
For more information on business rates and for a chance to attend the upcoming advice session with the Valuation Office Agency hosted by Kurtz and Paul Davies MS on the 26th January, businesses are encouraged to register their interest on www.samuelkurtz.wales
