£5million upper limit means ‘vast majority’ of small-scale schemes will secure rates relief
Hydro developers across Scotland have welcomed news that the upper limit for 60 percent relief for business rates for small-scale hydro schemes will be set at a rateable value of £5 million from April 1st next year.
The announcement was made last week (October 5) by Derek Mackay, the Scottish Government’s Cabinet Secretary for Finance and the Constitution.
Adrian Loening, Chairman of the British Hydropower Association said:
“The 60 percent relief for hydro schemes is very welcome news, and now we know the upper limit will be a rateable value of up to £5 million we are extremely pleased that the vast majority of hydro operators in Scotland will benefit from the BHA’s sustained lobbying of the Scottish Government on this matter over the past 12 months.
“We will now continue to press government to ensure that the forthcoming fast-track review of the Plant and Machinery Order is undertaken swiftly, efficiently and to the benefit of all hydro operators in Scotland. We will also continue our lobbying work on this matter both in England and Wales” Loening concludes.