- April 9, 2020
- Posted by: Mick Antoniw AM
- Category: Featured, Latest News
In response to the COVID 19 pandemic the Welsh Government announced a significant package of financial support for all businesses that are registered on the Council business rates records as at 20th March 2020. At the time of posting, there are 1000 qualifying businesses in RCT who are yet to take up the grant.
Any business that is eligible for Small Business Rates Relief on 20th March 2020 – those with a rateable value up to £12,000 – will receive a grant of £10,000. Retail, leisure and hospitality businesses with a rateable value between £12,001 and £51,000 will receive a grant of £25,000.
In order to be considered for a grant payment of either £10,000 or £25,000 you must complete and submit the online application form, along with supporting evidence of your bank account, which can be uploaded, as part of the application process.
Grant payments will be made as soon as is reasonably practicable (within 3 to 5 working days of receiving a completed application form).
The Welsh Government measures also mean that all retail, leisure and hospitality businesses with a rateable value below £500,000 will receive 100% non-domestic rates relief in 2020-21. The Council will automatically award this relief to qualifying businesses which means you do not have to make an application or contact the Council about this. If your business qualifies for the new relief, you will receive confirmation of this within the next 10 days and you can be assured that the Council will not collect a payment from your bank account on 15th April if you pay your rates by Direct Debit. A full list of qualifying businesses is available from Business Wales.