Two new business rate linked Covid grants in Wales

23 March 2021
  • Business rate linked Covid grants in Wales Cooke & Arkwright

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The Welsh Government has announced two new non domestic rate (NDR) linked grants to help businesses in non-essential retail sectors. They will operate as a top-up to the Restrictions Business Fund.

This will see eligible businesses with:

  • A rateable value of £12,000 or less will receive an extra £4,000 grant payment
  • A rateable value of £12,0001 - £500,000 will receive £5,000.

The funding will help businesses with their costs up to 31st March 2021. It will be available to firms regardless of the number of employees and ensures micro-businesses benefit from the support.

The Local Authorities (LAs) will administer and distribute both payments. Businesses that pay business rates and have already received a payment since the firebreak in October 2020 via their LA do not need to take any action. They will begin to receive payment into their bank account during March.

Businesses that have NOT registered with their LA need to register before the application window closes at 5 pm on 31st March 2021.

Please check your LA website for access to the registration and application process.

Check the WG website here.

I have worked with Jeremy Symons over the past three years successfully leasing and buying property in support of my business. I continue to be very pleased with his knowledge of the market and expertise. Our relationship over this time has resulted in acquiring 20,000 sq ft at Capital Business Park in Cardiff, leasing 11,000 sq ft at Southpoint, and subsequently leasing an initial 42,000 sq ft at Parc Bedwas, followed by a succession of expansions of a further 11,000 and then 47,000 sq ft, enabling us to centralise all of our operations at Parc Bedwas in a single 100,000 sq ft facility. The acquisitions were completed at the perfect time for tenant purposes and the rent fixed throughout the term at very economical rates. A job well done.

Bob James, Aerfin