IRRV Alert - week ending 16th December 2016

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Reforming the Rating System #RatesRethink - Spurring Economic Growth

 

 

 

 

 

 

 

 

The Finance Minister Máirtín Ó Muilleoir has today published a consultation paper on the package of measures announced on the 22nd November.  This initiates a nine week consultation period, ending on 16 February 2016.

The proposed measures include:

 

  • A new £22m a year Rates Investment Scheme for smaller retail and hospitality business
  • Piloting Business Empowerment Zones in two areas (Lower Newtownards and Lower Falls Roads)
  • Increasing rates on empty commercial properties
  • Charity shops to make a contribution
  • Charging the highest value homes more
  • Removing the early payment discount
  • Reducing landlord allowances
  • Student halls of residence to start paying rates
  • A 3 year rates holiday for first residents of new energy efficient homes

You can respond to the Rates:Rethink consultation as follows:

 

  • Queries and consultation responses should be sent to: ratingpolicy.cfg@finance-ni.gov.uk.:

     

  • Written responses to: Rating Policy Division, FinTru House, 1 Cromac Avenue, Gasworks Business Park, BELFAST, BT7 2JA

 

The Rates: Rethink consultation is now available on the Departments website at: https://www.finance-ni.gov.uk/consultations/rates-rethink

 

 

 


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