Menu
17/07/2012
Minister Seeks Views On Small Business Rate Relief Scheme
Finance Minister, Sammy Wilson, today announced an in year review of the Small Business Rate Relief scheme, which was extended in April 2012.
The focus of the review is to assess how well the scheme is operating and the specific costs of the expanded scheme. The review will also consider the operation of the multiple properties exclusion, and the merits of retaining double relief for business ratepayers who are also entitled to other significant support, such as derating (industrial, freight transport and sport and recreation relief).
Commenting on the review Sammy Wilson said: "Around 8,200 small businesses (or over 10% of business premises) have benefitted from a 20% discount on their rates since the expansion of the Small Business Rate Relief scheme in April. This additional support is a welcome assistance to many small businesses who have been adversely affected by the downturn and continue to struggle during these difficult economic times. In total around 24,000 businesses are now receiving help with their rates, with an average annual award of around £735.
"Given the expansion of the scheme in April, and the exclusion of those occupying multiple properties from the scheme, I feel that there is merit at this early stage in analysing which businesses are benefiting from this relief and whether further refinements could be made to better target help to those in most need."
(CD)
The focus of the review is to assess how well the scheme is operating and the specific costs of the expanded scheme. The review will also consider the operation of the multiple properties exclusion, and the merits of retaining double relief for business ratepayers who are also entitled to other significant support, such as derating (industrial, freight transport and sport and recreation relief).
Commenting on the review Sammy Wilson said: "Around 8,200 small businesses (or over 10% of business premises) have benefitted from a 20% discount on their rates since the expansion of the Small Business Rate Relief scheme in April. This additional support is a welcome assistance to many small businesses who have been adversely affected by the downturn and continue to struggle during these difficult economic times. In total around 24,000 businesses are now receiving help with their rates, with an average annual award of around £735.
"Given the expansion of the scheme in April, and the exclusion of those occupying multiple properties from the scheme, I feel that there is merit at this early stage in analysing which businesses are benefiting from this relief and whether further refinements could be made to better target help to those in most need."
(CD)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
24 March 2016
Views Sought On Small Business Rate Relief Scheme
Views are being sought on alternatives to the Small Business Rate Relief Scheme as part of an evaluation being carried out by the Ulster University’s Economic Policy Centre (UUEPC).
Views Sought On Small Business Rate Relief Scheme
Views are being sought on alternatives to the Small Business Rate Relief Scheme as part of an evaluation being carried out by the Ulster University’s Economic Policy Centre (UUEPC).
26 October 2011
Hamilton Reiterates Support For Small Businesses
Strangford DUP MLA Simon Hamilton has told an audience of business people in Lisburn that the Stormont Assembly must maintain its support for Northern Ireland's small business sector during these difficult times.
Hamilton Reiterates Support For Small Businesses
Strangford DUP MLA Simon Hamilton has told an audience of business people in Lisburn that the Stormont Assembly must maintain its support for Northern Ireland's small business sector during these difficult times.
16 December 2011
Big Stores 'Tax' Boosts Smaller Ones
A levy on large stores across NI is to go ahead - but at a reduced rate than originally proposed. The 'Tesco tax' as it has been named means that large retailers might then limit investment - and cost job creation opportunities.
Big Stores 'Tax' Boosts Smaller Ones
A levy on large stores across NI is to go ahead - but at a reduced rate than originally proposed. The 'Tesco tax' as it has been named means that large retailers might then limit investment - and cost job creation opportunities.
18 July 2012
Small Business Rates Relief Must Go Further - Durkan
SDLP Foyle MLA Mark H Durkan has said that Finance Minister Sammy Wilson’s review of the Small Business Rates Relief scheme must result in a new, improved rating process for businesses. Mr Durkan said: "I very much welcome Mr Wilson's announcement that he intends to review the Small Business Rates Relief scheme.
Small Business Rates Relief Must Go Further - Durkan
SDLP Foyle MLA Mark H Durkan has said that Finance Minister Sammy Wilson’s review of the Small Business Rates Relief scheme must result in a new, improved rating process for businesses. Mr Durkan said: "I very much welcome Mr Wilson's announcement that he intends to review the Small Business Rates Relief scheme.
19 November 2012
Local Businessman Benefits From Empty Premises Relief Scheme
Finance Minister Sammy Wilson has congratulated a local businessman from Carrickfergus who is benefitting from the Empty Premises Rate Relief scheme. Mr Colin Campbell has opened a scooter shop on West Street in Carrickfergus and will now benefit from a 50% discount on his rates for 12 months.
Local Businessman Benefits From Empty Premises Relief Scheme
Finance Minister Sammy Wilson has congratulated a local businessman from Carrickfergus who is benefitting from the Empty Premises Rate Relief scheme. Mr Colin Campbell has opened a scooter shop on West Street in Carrickfergus and will now benefit from a 50% discount on his rates for 12 months.
-
Northern Ireland WeatherThis Evening and Tonight:This evening will be dry and cloudy. Then the rest of the night will be dry but with a good deal of cloud. Mild. Light winds. Minimum temperature 8 °C.
