Wales has introduced a new round of the Restrictions Business Fund – this is a grant scheme for businesses that pay non-domestic rates.
Non-domestic rates are business rates so if your premises has a rateable value you will be able to apply for this grant until the 31st March 2021.
You should check your local authority website and follow the application process – if this has not yet been updated please keep checking.
If you have already applied for a grant, then your grant may automatically be issued by your local authority.
If you do not have a rateable premises then please check whether you are eligible for the local discretionary fund via your local authority website.
Restrictions Business Fund – Non-Domestic Rates (NDR) Linked Grants
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 receive 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, businesses that have not registered with their local authority, registration process will open from Monday 15 March 2021 and the application window will close at 5pm on 31 March 2021.
- Please continue to check your Local Authorities website for access to the registration and application process.