This week Finance secretary Derek Mackay announced additional support to mitigate the impacts of non-domestic rates rises. Many in the hospitality sector will be grateful for a 12.5% cap on their rates liability increase. Owners of small hydro schemes (under 1MW) will also benefit from this 12.5% cap.
Members should note that will the increased liability for certain rates have been capped the valuations and therefore rateable values may still be significantly higher. As Mr Mackay’s measures are only in place for 1 year it is important if anyone disagrees with their revaluations.