Culture Secretary Fiona Hyslop has announced an extension of the 12.5% cap to business rates for businesses operating in the hospitality sector whilst speaking at the Scottish Tourism Alliance conference yesterday.
The cap, which was originally announced for hotels, is now being extended to self-catering operations, guesthouses, B&Bs, timeshare units, hostels and camping and caravan sites.
Businesses across Scotland are set to receive their Valuation Notice from the Scottish Assessors this week and will be looking at their options for appeal.
Commenting on this latest announcement, Moira Walker, Ryden’s Head of Rating said: “While this recent announcement is welcomed it does not address the concerns of the many other businesses throughout Scotland that are facing huge increases in rateable values.
The Government needs to offer all businesses a transitional phasing of the increase in their rates payments. It is an unfair situation when some sectors of the market are given preferential treatment over other sectors who are also facing large increases in their rateable values.”