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.

Cooke & Arkwright have provided independent property consultancy services to the College for a number of years. This advice has included property valuations and negotiation around property acquisition and disposal, rent reviews and the preparation and negotiation of the College’s farm business tenancy agreement. The College has consistently received an excellent and professional service from Cooke & Arkwright and their valuable support to the College is recognised and appreciated.

Bob Bates, Director, Coleg Gwent