Over 25,000 businesses here are now benefitting from the 12 months rates holiday introduced by the Executive to help businesses impacted by COVID-19.
Legislation detailing the categories of business use across the hospitality, tourism, retail, leisure and other sectors to benefit from 100% rate relief until 31 March 2021 has now been made.
Finance Minister Conor Murphy today visited Bogart Menswear, one of the retailers with a 12 month rates holiday. Following the visit, he said: “COVID-19 has had a devastating impact on our business community but I am pleased today to see local retailers open for business.
“The Executive is committed to protecting livelihoods and supporting businesses impacted during this extremely challenging time. The 12 months rates holiday is supporting in excess of 25,000 businesses across the sectors most adversely impacted, including childcare establishments which are integral to supporting the process of economic recovery.
“This targeted support builds on the 4 months rates holiday provided to all businesses and demonstrates our continued determination to helping businesses get through this pandemic.”
Rate bills will issue to businesses here next week and will indicate that businesses will benefit from either the 4 or 12 month holiday. Where Land & Property Services (LPS) has sufficient information about business use LPS will automatically apply the 12 month rates holiday. If a business has not been automatically awarded the 12 months rates holiday and their business falls within the categories of use listed in legislation, they may apply for the rates holiday by providing more information to LPS about their business use. Further details can be found on the nibusinessinfo website at www.nibusinessinfo.co.uk/rates-holiday.
Notes to editors:
- The Rates (Coronavirus) (Emergency Relief) (No. 2) Regulations (Northern Ireland) 2020 detailing the facilities/business uses within the specified sectors which will benefit from the 12 months rates holiday can be viewed at https://www.legislation.gov.uk/nisr/2020/144/made.
- The 12 months rates holiday was announced as part of a £213m rates support package in May https://www.finance-ni.gov.uk/news/murphy-announces-further-ps213m-business-rates-support, building on the £100m rates support package announced in March https://www.finance-ni.gov.uk/news/covid-19-ps100m-emergency-rates-package-businesses and seeking to target those sectors in greatest need of support. A total of more than £320m has also been paid in support grants to over 30,000 businesses.
- Other reliefs such as industrial derating and exemptions will continue to apply.
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