Rates Bills 2018-19
On Wednesday 28 March 2018 the Northern Ireland (Regional Rates and Energy) Bill gained Royal Assent following its passage through Westminster. The Bill sets the amounts of the regional domestic and non-domestic rates for the financial year ending on 31 March 2019. The Bill implements an increase in the domestic regional rate of 4.5 per cent. The non-domestic rates increase by 1.5 per cent, in line with inflation.
In her statement on 8 March 2018 the Secretary of State for Northern Ireland also confirmed that the budget settlement for 2018-19 would provide the basis for the Small Business Rate Relief to continue. The legislation extending the scheme for 2018-19 has now been made by the Department of Finance and comes into operation on 1 April 2018.
Impact Assessment work in relation to the above including screening templates were undertaken in line with the Department’s processes for the Briefing on Northern Ireland Budgetary Outlook 2018-20.