New Scots business rate relief scheme introduced

A NEW business rates relief scheme of up to 100 per cent has been announced today by Scotland’s local government minister Derek Mackay in a move to help developers and encourage the supply of new premises for firms.

Mr Mackay said that the new relief will help new empty properties built in Scotland from 1 April this year.

The minister said it would help increase the supply of new premises for businesses by providing rates relief to owners and developers of new build empty properties for up to 18 months.

The scheme, which will run for three years, is expected to provide an additional £5-10 million in rates relief and comes alongside the recently announced “Fresh Start” scheme, which focuses on helping landlords or developers attract occupiers to certain long term empty properties.

Mr Mackay said: “I want to see Scotland thriving and be attractive to investment. This new rates relief builds on a package of actions the Scottish Government is taking to support that.

“Scotland already has the most competitive rates regime in the UK, worth more than £500 million annually, and it’s important that in tough times we listen to our developers and our business community and take steps to encourage their continued investment in the economy.

“Through this new relief and our Fresh Start initiative, we are encouraging people to invest in Scotland, set up shop, and capitalise on the business opportunities we offer.”