Small retailers will continue to receive business rates relief in the first three months of the 2022-23 financial year as part of the new Scottish Budget.
SMEs will receive 50% relief for the first three months of 2022-23 (April/May/June), capped at £27,500 per business/ratepayer.
Finance Secretary, Kate Forbes, also indicated that businesses with a rateable value of less than £15,000 will continue to pay no rates for the entirety of next year, irrespective of what sector they are in, through the Small Business Bonus Scheme.
The Scottish Budget 2022-23 will also expand the Business Growth Accelerator relief for property improvements to include the installation of solar panels as a qualifying improvement. The initiative provides 100% relief on new builds for up to 12 months after first occupation and no rates increases for 12 months after a qualifying property improvement.
The budget sees more than £96m set aside for delivery of the government’s place-based investment programme and a range of projects to regenerate communities.
In addition, £112m will support a range of sustainable low and zero carbon transport initiatives, including growing and developing electric charging and zero emission refuelling infrastructure to accelerate the switch to zero emission vehicles.
The government also set aside £43m to drive forward Scotland’s circular economy.
Next year’s Budget unveils government plans to invest £9.2m to harness the digital ambitions of SMEs and strengthen the digital economy and plans to introduce secondary legislation on a Workplace Parking Levy to enable local authorities to introduce such schemes from 2022.
The government also pledges to create the statutory framework that underpins its ambition to make Scotland a Good Food Nation.
Forbes said: “The Scottish Government has taken spending decisions that prioritise supporting people and our vital public services through the twin crises of Covid and the cost of living. It is a budget for Scotland’s future – one that will help us secure a fairer, greener and more prosperous country.”
