AQW 10940/22-27

Mr Justin McNulty
Social Democratic and Labour Party
Newry and Armagh

Tabled Date: 26/04/2024
Answered On Date: 08/05/2024
Priority Written: No

Question:
To ask the Minister of Finance to detail the financial support available to businesses struggling to pay their rates’ bill.

Answer:

Support is provided to 75% of non-domestic ratepayers, who get help with their rates bills through annual policy interventions, costing in the region of almost £250m per annum.

The support provided includes the Small Business Rate Relief (SBRR) Scheme, recently extended by my Department to provide £21.5m of assistance to almost 30,000 small businesses receiving a reduction of between 20% to 50% on their 2024/25 rate bill.

The Executive is also providing support in 2024/25 through Industrial Derating for over 4,400 local manufacturing properties at a cost of £71.5m, a measure which isn’t provided in England, Scotland or Wales.

Other support provision includes Freight Transport Relief, Sport and Recreation Relief, Community Amateur Sports Club Relief, Non-domestic Vacant Rating relief, Residential Care relief, Halls of Residence exemption, and Hardship Relief for those in exceptional circumstances. The range of support provided is detailed in full, along with the eligibility criteria, on the nibusinessinfo.com website.

If any business is struggling to pay their rates bill they should contact Land & Property Services at the earliest opportunity to arrange a payment plan.