Compensation details for Caerphilly town traders
Details of how Caerphilly town centre traders can apply for compensation for loss of business during the ongoing roadworks have been published.
Last week Caerphilly Observer told how the closure of Cardiff Road gas works had led some traders to report a drop in trade of up to 85%, leading to doubts that some could survive.
Following this, local councillors representing the St Martin ward urged traders to apply for compensation if they had suffered a loss of business.
Under The Gas (Street Works) (Compensation of Small Businesses) Regulations 1996, small businesses can claim if their business has been affected for a period exceeding 28 days.
The following is from Wales and West Utilities, which is carrying out the gas works in Caerphilly town centre.
Claims for loss of profits will be considered providing they meet the following criteria:
Period of disruption exceeds 28 days
The annual business turnover is below £1,512, 000.00
The business is not part of a large chain or group of companies
No claim if loss of profit is (i) less than £500 or (ii) does not exceed 2.5% of annual turnover.
Notice of claim is made within 3 months of completion of works and supporting evidence provided within 6 months of completion of works.
If the above criteria can be met the following information is required:
Confirmation from Wales & West Utilities Ltd that the disruption period exceeded 28 days.
Copies of financial statements or accounts together with confirmation of your VAT status.
Figures for the period of disruption and figures from the same period last year to establish the loss of business suffered.
Any other information that may support the claim.
The above will form the basis of a claim from which it should be possible to consider compensation for loss of trade. It should be noted the Regulations do not provide for the payment of claimants professional advisors fees.
Traders wanting more information about the compensation scheme should contact Wales and West Utilities on 0800 2946645 or email email@example.com