A PLANNED increase in business rates in Monmouthshire which could see bills for some firms rise by more than 40 per cent has been slammed by council leaders.

Monmouthshire County Council has expressed concern after the latest revaluation of draft rateable values by the Valuation Office Agency (VOA).

Some businesses across the county are reporting an increase of more than 40 per cent in rateable values from April 1, 2017.

The council’s deputy leader and cabinet member for enterprise Cllr Bob Greenland said: “As an authority keen to celebrate the county’s business excellence we will summon an urgent meeting with the VOA to raise our concerns. Although the authority is unaware of a procedure to lodge an appeal on behalf of the businesses within its county boundaries, we will seek answers about why our businesses appear to shoulder a higher proportion of the rates burden liability in Wales”. And, writing on Twitter, chief executive Paul Matthews said: “Monmouthshire make excellent contribution to Welsh economy – why smash it with BIG Business Rate increases? promote success,don’t punish it”.

One of the council’s four priorities is to support enterprise, entrepreneurship and job creation.

Rateable values are based on the rental value of properties at April 1, 2015, reflecting the changes in the property market across the country since the last valuation undertaken in 2010.

Draft rateable values are currently available on the VOA website and businesses in Monmouthshire are encouraged to check their draft rateable value by November 30, 2016 and inform the VOA of any inaccuracies.

Businesses are also unable to appeal their rateable value until the start of the new financial year next April.

The Welsh Government plans to limit the impact of the revaluation by offering a transitional relief rather than changing the thresholds for small business rates relief, but as a result of the VOA’s 2017 non-domestic rates revaluation, some properties currently receiving Small Business Rates Relief will not in fact longer qualify.

The Welsh Government is also consulting on a transitional relief scheme to phase in changes to individual rates bills for properties receiving Small Business Rates Relief, and consultation closes on Friday, November 4.