Wales Firebreak Lockdown Business Fund

Covid-19 – Business Rates Update 28th October 2020,

28 October 2020

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The Welsh Government has issued details of its Lockdown Non-Domestic Grant and Lockdown Discretionary Grant for businesses during the current national firebreak lockdown in Wales. The grants opened at 3.00 pm on Wednesday 28th October and will close on Friday 20th November or when the fund has been fully committed. Applicants are to be dealt with on a first come, first served basis. We recommend that applications be made at the earliest opportunity as they may not be appraised if the fund becomes fully committed.

Lockdown Non-Domestic Rate Grant

Grant 1

A grant of £5,000 is available to retail, leisure and hospitality businesses that have been forced to close and occupy properties with a rateable value of between £12,001 and £51,000.

Grant 2

A grant of £1,000 is available to businesses that are eligible for Small Business Rates Relief (SBRR) in Wales and occupy properties with a rateable value of up to £12,000.

Businesses eligible for the SBRR may also be eligible for top up grants:

  • If they have been subject to local restrictions for three weeks or more and have suffered more than 50% reduction in turnover up to 23rd October, a further grant of £1,000 is available
  • If they have been forced to close as a result of the firebreak lockdown, a further grant of £2,000 is available from their local authority.

Businesses will need to be on the NDR rating list for their local authority on 1 September 2020 and must complete a registration form to receive the grant. They are not eligible if they receive the Lockdown Discretionary Grant from their LA.

Lockdown Discretionary Grant

Grant 1

A discretionary grant of £1,500 is available to businesses if:

  • They have been forced to close as a result of the firebreak lockdown
  • Or can demonstrate that they will suffer at least an 80% reduction in turnover during the firebreak lockdown.

Lockdown Discretionary Grant

Grant 2

A discretionary grant of £2,000 is available to businesses if:

  • They have been forced to close as a result of the firebreak lockdown
  • Or can demonstrate that they will suffer at least an 80% reduction in turnover during the firebreak lockdown
  • And have been subject to local restrictions for three weeks or more up to 23rd October and have experienced at least 50% reduction in turnover for that period.

Businesses may not apply for both Grant 1 and Grant 2 of the Discretionary Grant.

Businesses are not eligible if they are eligible or receive the Lockdown Non-Domestic Rate Grant from their local authority.

Businesses are not eligible if they have 50 or more employees or if the business generates less than 50% of the applicant’s income.

Businesses should read the relevant regulations and full guidance before applying based on the regulation and broader support offer. For eg, grants may still be available if your main business is closed but you are operating a takeaway service.

 

Further details can be found here

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