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17/07/2012
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.
Mr Wilson said: "Around 8,200 small businesses (or over 10% of business premises) have benefited 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."
The scheme was extended in April and will continue until 2015.
Mr Wilson said it was "too early at this point" to evaluate the scheme fully, but decision about what might replace it would be made in 2014.
Comments should be provided by Friday 5 October 2012 by email, fax or in writing to the following address:
Rating Policy Division,
Department of Finance and Personnel,
Longbridge House,
20-24 Waring Street,
Belfast,
BT1 2EB
Email: ratingpolicy.cfg@dfpni.cov.uk
Fax: 028 9034 7435
(NE)
Business owners are urged to respond and let Mr Wilson know whether help could be better targeted to them.
Mr Wilson said: "Around 8,200 small businesses (or over 10% of business premises) have benefited 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."
The scheme was extended in April and will continue until 2015.
Mr Wilson said it was "too early at this point" to evaluate the scheme fully, but decision about what might replace it would be made in 2014.
Comments should be provided by Friday 5 October 2012 by email, fax or in writing to the following address:
Rating Policy Division,
Department of Finance and Personnel,
Longbridge House,
20-24 Waring Street,
Belfast,
BT1 2EB
Email: ratingpolicy.cfg@dfpni.cov.uk
Fax: 028 9034 7435
(NE)
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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.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
