Menu
17/07/2014
'Extend Small Business Rate Relief' - NIIRTA
The Northern Ireland Independent Retail Trade Association (NIIRTA) has called for the Small Business Rate Relief Scheme to be extended and enhanced.
The group made the recommendation in its submission to the Review of the Small Business Rate Relief Scheme (SBRRS),
Chief Executive Glyn Roberts said: "Currently Rates are the only taxation powers of the NI Executive. It has shown imagination and flexibility in using the Rating System to support small businesses and address the issue of empty shops and offices with the Empty Premises Relief.
"NIIRTA has always recognised that the SBRRS is not a 'silver bullet', which will solve the many problems facing the independent retail and small business sector, but was nevertheless a welcome response by the Department of Finance and Personnel in providing a practical form of assistance.
"Approximately one third of our members currently qualify for the SBRRS and we have received positive feedback from our members with many of them saving between £500-£700. Many have reinvested this saving back into their business.
"We would like to see this eligibility considerably expanded as part of any future development of the Scheme. The most common areas of reinvestment identified have been in new IT equipment, signage and staff training."
NIIRTA also called on the Department of Finance and Personnel to establish a "Town Centre Rate Relief Scheme" to provide a 25% reduction for retailers and hospitality businesses in town centres.
(IT/MH)
The group made the recommendation in its submission to the Review of the Small Business Rate Relief Scheme (SBRRS),
Chief Executive Glyn Roberts said: "Currently Rates are the only taxation powers of the NI Executive. It has shown imagination and flexibility in using the Rating System to support small businesses and address the issue of empty shops and offices with the Empty Premises Relief.
"NIIRTA has always recognised that the SBRRS is not a 'silver bullet', which will solve the many problems facing the independent retail and small business sector, but was nevertheless a welcome response by the Department of Finance and Personnel in providing a practical form of assistance.
"Approximately one third of our members currently qualify for the SBRRS and we have received positive feedback from our members with many of them saving between £500-£700. Many have reinvested this saving back into their business.
"We would like to see this eligibility considerably expanded as part of any future development of the Scheme. The most common areas of reinvestment identified have been in new IT equipment, signage and staff training."
NIIRTA also called on the Department of Finance and Personnel to establish a "Town Centre Rate Relief Scheme" to provide a 25% reduction for retailers and hospitality businesses in town centres.
(IT/MH)
Related Northern Ireland News Stories
Click here for the latest headlines.
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.
05 March 2014
Small Business Rates Relief To Be Evaluated
An evaluation of the Small Business Rate Relief Scheme has been announced by the Department of Finance. Finance Minister Simon Hamilton made the announcement at a meeting of Lisburn Chamber of Commerce today.
Small Business Rates Relief To Be Evaluated
An evaluation of the Small Business Rate Relief Scheme has been announced by the Department of Finance. Finance Minister Simon Hamilton made the announcement at a meeting of Lisburn Chamber of Commerce today.
17 July 2012
Small Business Rate Relief Reviewed
Northern Ireland's Finance Minister, Sammy Wilson, has announced a review of the Small Business Rate Relief scheme in an attempt to see how well it is helping small Northern Irish firms and how much it costs. Business owners are urged to respond and let Mr Wilson know whether help could be better targeted to them.
Small Business Rate Relief Reviewed
Northern Ireland's Finance Minister, Sammy Wilson, has announced a review of the Small Business Rate Relief scheme in an attempt to see how well it is helping small Northern Irish firms and how much it costs. Business owners are urged to respond and let Mr Wilson know whether help could be better targeted to them.
28 September 2004
Small business sector 'confident but concerned'
A new report has revealed that over half of Northern Ireland's small businesses have been victims of crime during the past year. The Federation of Small Businesses (FSB) 'Lifting the Barriers to Growth' Biennial Membership Survey 2004 examined issues and problems relating to small business growth in the province.
Small business sector 'confident but concerned'
A new report has revealed that over half of Northern Ireland's small businesses have been victims of crime during the past year. The Federation of Small Businesses (FSB) 'Lifting the Barriers to Growth' Biennial Membership Survey 2004 examined issues and problems relating to small business growth in the province.
27 July 2010
Firms Struggle To Make Rate Payments
Rates arrears in Northern Ireland have soared to a record £157m, according to Land & Property Services (LPS). The uncollected debt has risen by £19m from £138m in 2009 with nearly two-thirds of the arrears owed by non-domestic ratepayers.
Firms Struggle To Make Rate Payments
Rates arrears in Northern Ireland have soared to a record £157m, according to Land & Property Services (LPS). The uncollected debt has risen by £19m from £138m in 2009 with nearly two-thirds of the arrears owed by non-domestic ratepayers.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
