Non-Domestic Rates (NDR) Linked Grants
More details of the £150 million have been made available by the First Minister this lunchtime to support Welsh businesses in dealing with the continued impact of the coronavirus pandemic.
Following the First Minister’s announcement on 12 March 2021, two new Non-Domestic Rate linked grants are being introduced:
- The additional support will help businesses in the hospitality, tourism, leisure and non-essential retail sectors that pay non-domestic rates and will operate as a top-up to the Restrictions Business Fund.
- This will see an eligible business with a rateable value of £12,000 or less receives an extra £4,000 grant payment.
- Firms with a rateable value of between £12,001 and £500,000 will receive £5,000.
- The funding, which will help businesses with their costs up to 31 March 2021, will be available to firms regardless of the number of employees and ensures micro-businesses benefit from the support.
- Local authorities will again be administering and distributing both these payments.
- Businesses that pay non-domestic rates and have already received a payment since the firebreak in October via their Local Authority do not need to take action and will begin receiving payment via the Restrictions Business Fund into their bank account during March 2021.
- However, for businesses that have not registered with their local authority, the registration process will open from Monday 15 March 2021 and the application window will close at 5 pm on 31 March 2021.
Local Discretionary Grant
- The Discretionary Fund remains open to new applicants until 30 March 2021 and we continue to consider the case for further funding from April onwards.
For more information, please contact us on 01792 410100 alternatively email mail@bevanbuckland.co.uk