Rates relief welcomed

BALLYCASTLE councillor Dónal Cunningham (SDLP) is hopeful the sustainability of many small local businesses will be helped with the extension of the Small Business Rates Relief Scheme in April.

By The Newsroom

Published 15th Feb 2013, 13:29 BST

Councillor Cunningham said: “Following a review of commercial rating an additional band of 20 per cent relief is available from 1 April 2012.

There are three levels of Small Business Rate Relief:

* business properties with a NAV of £2,000 or less will receive a reduction of 50 per cent relief

* business properties with a NAV of more than £2,000 but not more than £5,000 will receive 25 per cent relief

* business properties with an NAV of more than £5,000 but not more than £10,000 will receive a 20 per cent relief

“It is estimated that this measure will benefit an additional 3,500 businesses across the north and undoubtedly a large number of local businesses will be able to avail of this much needed assistance at http://www.nibusinessinfo.co.uk/content/small-business-rate-relief

SDLP