Welsh business lockdown support scheme topped up

4 February 2021
  • Business Rate Advice Cooke & Arkwright

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The Welsh Government has issued details of an additional £200 million business rate support package for non-essential retail, hospitality, leisure and tourism (NERHLT) businesses in Wales. This follows the extension of restrictions announced at the end of January 2021. It will be a top-up to the Economic Resilience Fund (ERF), Restrictions Business Fund non-domestic Rates (NDR) grant, and Discretionary based grants that have been in place since early December 2020 and covers the period between 25th January and the end of March 2021.

Businesses in the NERHLT sectors with:

  • A rateable value of £12,000 or under will be eligible for an additional £3,000
  • A rateable value of between £12,001 and £500,000 will be eligible for £5,000.

Supply chain businesses which experience a reduction in turnover of more than 40% will also be able to supply for the above support.

In total, when combined with the earlier firebreak support, this package provides eligible NERHLT businesses with:

  • A rateable value of £12,000 or under, a £6,000 grant towards operating costs
  • A rateable value of between £12,001 and £150,000, a £10,000 grant towards operating costs
  • A rateable value of between £150,001 and £500,000, a £5,000 grant payment (new in this package).

This does not include businesses who have accessed the ERF Sector Specific Fund.

A further £30 million is also available through the discretionary fund to provide up to £2,000 for businesses not on the non-domestic rate system.

This WG support is in addition to that available from the UK Government and will be administered by local authorities. Businesses with a rateable value up to £150,000 that have already registered and received a payment since the October firebreak do not need to take any action.

Business Rates Director, Andrew West said, “It is essential that any NERHLT businesses which have not registered with their local authority should take action now to ensure they receive the support they are entitled to, which has been available since 4th December.

“NERHLT businesses with rateable values between £150,001 and £500,000 were not eligible for funding in December and so will need to register their details through their local authority website to gain access.”

Please visit the Welsh Government’s website on the link below to access the full details.

Extension of the Restrictions Business Fund

Cooke & Arkwright has advised Telereal Trillium on a wide variety of development sites and properties all over Wales . They consistently deliver the levels of local knowledge, expertise, initiative and successful outcomes that you need when running a large UK wide portfolio.

Mark Kelly, Director, Development & Disposals, Telereal Trillium