Finance Minister has launched the consultation
on the Small Business Rate Relief scheme
Speaking after the launch the Minister said: “In early
November, I announced plans to bring forward changes aimed at
providing greater support for small businesses.
“Small businesses are the backbone of our local economy
and I am committed to delivering positive, progressive changes to
the rating system here creating a fair environment for all
business sectors, fostering entrepreneurship, boosting occupancy
of vacant properties and enabling smaller businesses to
flourish.”
The Minister added: “The Small Business Rate Relief
scheme currently provides vital support for operating costs for
around 30,000 of our small business properties at a cost of
£22.5million in the current rating year.
“We are considering two changes to this scheme to help
increase support to businesses and lower operating costs:
increasing the level of reductions provided under the scheme and
raising the upper valuation threshold that applies within
it.
“This consultation offers businesses and interested
parties the opportunity to share their final views before
proposals are presented to my Ministerial colleagues. I would
encourage everyone to have their say and help to shape this
support and deliver local solutions to local
challenges.”
The Minister concluded: “I have asked my officials to
work at pace on this area to develop consultation proposals to
facilitate changes for the 2026/27 rating year.”
This focused consultation will run for eight weeks and then will
close for responses on 29 January 2026 in order to continue to
facilitate any changes in time for the 2026/27 rating year.
For more details visit www.finance-ni.gov.uk/consultations/small-business-rate-relief-sbrr-options
