Business Rates Bills – Out this week

Business Rates Bills – Out this week
Finance Minister Conor Murphy

Land & Property Services (LPS) will begin issuing business rate bills this week, two months later than usual after Finance Minister Conor Murphy delayed their release to give ratepayers a break in payments.

Over £1 billion in rates was collected last year. The money raised was invested in vital public services such as healthcare, education and roads as well as helping to fund essential Council services.

The Executive has frozen the element of the rate bill it is responsible for to help businesses with the post-pandemic recovery.

Cashflow

Finance Minister Conor Murphy said: “The pandemic has had a devastating impact on the economy and on the cashflow of many businesses. Last year I reduced the non-domestic regional rate by 18% to help all business ratepayers. We have frozen the rate again this year, which means that the benefit of last year’s cut will be retained.”

The Minister also confirmed that many businesses in the hardest hit sectors of the economy will again pay no rates in 2021/22. “The further 12 month rates holiday will benefit almost 29,000 businesses, helping to sustain businesses and the jobs they provide.

Payment arrangements

Land & Property Services is encouraging anyone having difficulty paying to contact them for advice on payment arrangements and the range of support available. Full details can be found at www.nidirect.gov.uk/rates and www.nibusinessinfo.co.uk/business-rates