Covid 19 Grant Funding - Closing Dates

8 June 2020

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With the Covid-19 non-domestic rates (NDR) grant scheme closing to new applications at 5pm on 30th June 2020, Cooke & Arkwright director of business rates Jane Shankland provides an overview of the grants that are available to businesses and what they need to do to obtain them.

As a result of the impact of the Covid 19 pandemic on business, the Welsh Government introduced support measures to assist business in Wales.  These included 2 separate grant schemes, the Non Domestic Rates (NDR) grant and the Economic Resilience Fund.

Applications for the Economic Resilience Fund have been paused following the large number of applications submitted in the initial weeks.  We await confirmation from Welsh Government if a further round of applications will be accepted for this scheme.

The Covid-19 non-domestic rates (NDR) grant schemes will be closing to new applications at 5pm on 30th June 2020.

This grant is for business rate paying premises only and is split into 2 parts:

  • Grant 1: A grant of £25,000 is being made available for retail, leisure and hospitality businesses occupying properties with a rateable value of between £12,001 and £51,000. This means businesses that occupy properties such as shops, restaurants, cafes, drinking establishments, cinemas, live music venues, hotels, guest and boarding premises and self-catering accommodation.
  • Grant 2: A £10,000 grant to all businesses eligible for small business rates relief (SBRR) in Wales with a rateable value of £12,000 or less.

If you are eligible and you have not already applied, please ensure that you apply via your local authority before this date. Any applications received after 5pm on 30 June 2020 will not be considered.

Further information can be found at:

https://businesswales.gov.wales/coronavirus-advice

If you need further information on this or any business rates related issue, please do not hesitate to contact myself or my colleagues Andrew West or Huw Jones.

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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