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The latest news, events and insights in the Wales property world

Business rate relief for companies going green

Business rate relief for companies going green

In his Spring Statement on Wednesday 23rd March, the Chancellor announced two new business rates reliefs in England which came into effect in April 2022.

No automatic pay-out of rate relief in Wales

No automatic pay-out of rate relief in Wales

The Welsh Government is to make grant funding available to provide the Retail, Leisure and Hospitality Rates Relief scheme to eligible businesses for 2022-23. The scheme aims to provide support…

Big tax increases for owners of second homes and holiday lets in Wales

Big tax increases for owners of second homes and holiday lets in Wales

Owners of second homes in Wales could face increases of up to four times their current level of council tax after the Welsh Government published the outcome of the 2021…

Business rates in Wales – a timely reminder

Business rates in Wales – a timely reminder

This is an update on the latest changes to business rates provided by the Welsh Government on the Non-Domestic Rates (NDR) system in Wales.

Leading the charge

Leading the charge

The race to provide a network of easily accessible, 24/7, rapid and reliable electric vehicle (EV) charging bays across the UK is gathering pace. A growing number of firms are…

New rate relief announced for retail, leisure and hospitality sector in Wales for 2022-23

New rate relief announced for retail, leisure and hospitality sector in Wales for 2022-23

The Welsh Government announced its Draft Budget on Monday, 20th December 2021. This included £116bn package of rate relief to support businesses most directly affected by the pandemic, comprising an…

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Cooke & Arkwright have been providing rating valuation advice to The Welsh Rugby Union Limited (“WRU”) and Millennium Stadium plc for many years. They were recently successful in achieving substantial reductions in the assessments of the Millennium Stadium, covering both the 2005 and 2010 rating list. These negotiated reductions yielded savings of c.£3.5m which, crucially, allows the WRU to re-invest in rugby throughout Wales. They advise the WRU across the group portfolio including the National Centre of Excellence in the Vale of Glamorgan. The valuation issues across the WRU portfolio are complex requiring a high level of understanding of the funding and finances of professional sport in Wales. Cooke & Arkwright’s experience and understanding of these issues and application to the rating valuation have yielded these substantial negotiated reductions. The WRU and the Millennium Stadium entrust our work to organisations with the required levels in experience and expertise in dealing with these complex issues. I am glad to say we have this expertise in Wales. I would have no hesitation in recommending ratepayers making use of this Welsh based expertise.

The Welsh Rugby Union Limited, Welsh Rugby Union Group