Over 500 Powys businesses in the retail, leisure and hospitality sectors have had their business rates bills reduced after applying for a rate relief scheme, the county council has said.

The Business Rates Retail, Leisure and Hospitality Rates Relief scheme for financial year 2024-25, which is administered by Powys County Council, has seen 550 businesses in the county receive the 40 per cent relief which has reduced their business rate bills by £1.8m.

Now the council is urging remaining eligible businesses to apply for the rate relief for this financial year.

The Welsh Government scheme, which supports Powys businesses in recovering from the impacts of the pandemic and the ongoing economic challenges including high inflation rates, offers eligible occupied businesses a discount of 40 per cent on the business rates bill for a property.

The scheme will apply to all eligible ratepayers with a relief cap for all business properties up to a maximum of £110,000.

The council has received £3.2m grant funding for the scheme.

The business must be in the retail, leisure, hospitality or tourism sectors, for example shops, pubs and restaurants, gyms, performance venues and hotels.

The rate relief scheme is available until 31 March 2025.