Fact sheet to help business owners with rates review

Fact sheet to help business owners with rates review

10 June 2015

MOUNTING concern across the business community about massive rates hikes has prompted local council chiefs to offer assistance.

A new fact sheet has been produced to explain the rates increases imposed by Land and Property Services following a major revaluation exercise by the Department of Finance which has hit many business owners.

The fact sheet — compiled by Newry, Mourne and Down Council — outlines how the new business rate was determined and what rate relief schemes traders could tap into. Advice is also available to business owners who can’t pay their bills and what will happen if they don’t.

The leaflet details an appeals process and an opportunity for business owners to meet with a Land and Property Services representative on site.

Business owners in Castlewellan, who are seeking a meeting with Stormont Finance Minister Arlene Foster, have warned some traders in the town could be forced to the wall and others are questioning their long term future. 

While some businesses have seen their rates bills decrease, those in the manufacturing, retail and hospitality sectors have reported an increase of between 60 and 100 per cent.

The publication of the fact sheet follows a request from Downpatrick councillor Colin McGrath that the business community be provided with information about the rates increase process and what help is available. Support for the new fact sheet has also been voiced by councillor Patrick Clarke.

“The revaluation of business rates has been a disastrous process for traders, literally pushing some of them to the edge and closing their shops,” said councillor McGrath. “Some businesses have seen their rates bills double and in the tough economic times we are in, this has made business survival difficult.

“I am sad there is little the local council can do as we have no part of this process of revaluation. However, I am aware there are some rebates, exclusions and technicalities that may provide some businesses with support and assistance.”

Councillor McGrath said he has asked for all available information to be included in the fact sheet “to help businesses in their hour of need,” confirming members of the council’s Economic, Regeneration and Tourism Committee are also doing what they can to pursue this matter with Minister Foster.

Councillor Clarke is urging business owners to get a copy of the fact sheet which is available on the council website and said he shares the concerns of traders, in particular, those in Castlewellan.

He attended a recent meeting in the town to discuss the issue and said it’s clear the rates hike has left many business owners in a “total state of shock.”

“Unfortunately, the revaluation of business properties is outside the local council’s control, but given the strength of business opposition the new fact sheet has been drawn up to assist traders and bring some clarity to questions they have,” said councillor Clarke.

He added: “I welcome news that a meeting is being sought with Minister Foster on this issue and hope and that given some business owners have seen their rates double, the level of the increases will be reviewed. Consideration must be given to providing financial help to reduce the hardships small businesses are facing.”

The new leaflet which is available at http://www.newrymournedown.org/non_domestic_business_rates_information_leaflet