Storm Dennis Flooding Disruption

21 February 2020

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We are acutely aware of the enormous disruption resulting from the flooding as a result from Storm Dennis over the weekend of 14th to 18th February.

One factor to consider is your liability to business rates. We are lobbying the Welsh Government and Local Authorities for immediate relief from business rates for affected businesses.   The Welsh Government held a meeting with Local Authorities on 19th February.

 

We will continue to monitor the situation and will provide further update as soon as the Welsh Government announces any schemes of relief to alleviate the adverse financial impact of the floods to businesses.

 

In the meantime if you would like to discuss any aspect of your liability to business rates please contact us.

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.

Steve Phillips, Group Finance Director, Welsh Rugby Union Group