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Further £213m business rates support for Businesses in Northern Ireland

21 05 20 business rates

Business Rates Experts at Colliers International Welcome Extension of Relief.


The Northern Ireland Executive has announced an unprecedented £213m rates support package for businesses. This builds on the £100m scheme announced by the Finance Minister in March which gave all businesses a three-month rates holiday and was due to end on 30 June 2020.

The new scheme is warmly welcomed by business rates specialists at international property consultants Colliers International. 

The new scheme will see those sectors hardest hit by the pandemic pay no rates for the full financial year up until 31 March 2021.

Those sectors are:

  • hospitality, tourism and leisure
  • retail (excluding certain supermarkets and off-licences)
  • childcare
  • Belfast City, Belfast International and City of Derry Airports.

     

The rates support packages will also see all businesses received a one-month extension of the rates holiday up to 31 July 2020.

Finance Minister Conor Murphy said: “The pandemic has had a devastating impact on the economy. The initial rates support package helped businesses with immediate cash-flow difficulties during the lockdown. As the Executive begins to ease the restrictions which have been necessary to save lives, I am pleased to announce this new scheme which importantly provides all businesses with an extended rates holiday for July.

“Further support is then targeted at the sectors which will be in greatest need in the months ahead. This includes retail, hospitality, tourism, leisure, childcare and airports.”
David Hughes of Colliers International commented, “We are delighted that the NI Executive has decided to extend the rates holidays for certain sectors. It had been incongruous that retail, hospitality/leisure and childcare did not receive the same business rates holiday as the rest of the UK and we were particularly worried about the pub and hotel trade, many of which saw NAV rises of over 100% as a result of the NI Revaluation. We will continue to maintain a watching brief to ensure our clients benefit from any available reliefs.”

John Webber, Head of Business Rates at Colliers International said, “This announcement will be a welcome relief for many. We have been campaigning for a more equal treatment for businesses in Northern Ireland and the rest of the UK for some time. We are not out of the woods yet, but at least this announcement gives such vulnerable businesses a much-needed breathing space.”


Related Experts

John Webber

Head of Rating

Rating

Birmingham

I have over 30 years’ experience in the rating industry and lead a 90 plus rating team at Colliers International.  When I took over responsibility for the team in 2005, it consisted of only a dozen people and has now grown into one of the leading rating advisory teams in the country.  I am a member of Colliers International Management Executive as well as sitting on the company’s promotion panel. 

I am regularly called upon by the national media to give my views on a range of business rates issues and I am vocal commentator on the 2017 Revaluation.

I started my career in the Valuation Office Agency in Kidderminster.  I joined Gerald Eve in 2000 where I spent 10 years before moving to Gooch Webster (now Colliers International). I sit on the National Retail Panel of Rating Surveyors Association which provides guidance on how the RSA town committees work with the VOA and valuation matters.  John sits on the RICS Rating Diploma Committee having passed the prestigious qualification in 2014.

Philip Harrison and I founded 'Accurates' in 2007, the Collier's Compliance and Audit team, which although forms an integral part of the Rating Team is now a leading brand in its own right.

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Suzy Simpson

Head of Content, Communications and PR

PR

London - West End

As Head of Content, Communications & PR for Colliers in the UK, I am responsible for driving the strategic direction of corporate communications, media relations, and the programming and production of multi-channel content to engage external and internal audiences across the UK.

Get in touch for help with: 

  • Content Communication Strategy 
  • Media Relations
  • Corporate & Internal Communications
  • Media Training & Personal Brand Training

 

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