Business Rate Support For Businesses Affected By Coronavirus (COVID-19)

17 March 2020

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As a business Cooke & Arkwright are extremely aware of the ongoing economic consequences of the Covid-19 crisis. We expect the Welsh and UK Government to consider the deferment of payment of rates for the duration of the crisis as an appropriate reaction.

We believe the physical consequences of the crisis enable us to make additional material change in circumstance appeals against business rate assessments.   The Valuation Office Agency is resisting this but as the physical consequences of the crisis become more manifest we will press for the event to be recognised as a reason to reconsider the quantum of business rate assessments. 

Yesterday the Welsh Government announced an enhanced scheme of support for businesses affected by the ongoing coronavirus crisis.

Retail, leisure and hospitality businesses with a rateable value of £51,000 or less will receive 100% business rate relief and pubs with a rateable value of between £51,000 and £100,000 will receive a £5,000 reduction to their bill. This will apply for the rate year 2020/21.

In addition, a further £100 million will be available for a new grant scheme for small businesses.

Further details on this new grant scheme are to be confirmed as soon as possible.

We are hopeful that the relief will be applied automatically but will notify you if there is an application process.

We await further detail on the schemes and will keep you updated immediately.