O'Neill Welcomes Small Business Rate Relief

The South Down Assembly candidate, who has been campaigning for some time for rate relief for small businesses, said,xa0“I am delighted that nearly year after this scheme was introduced, Land and Property Services have finally published a booklet and have distributed it to businesses highlighting their rate relief entitlements. [caption id="attachment_21086" align="alignleft" width="280" caption="Down District Councillor Eamonn O'Neill has welcomed the rates relief for small businesses. "][/caption] “This will give clarity to small businesses, many of whom were oblivious to this relief scheme, and will make a big difference to those companies on the margins who hadn’t been claiming rate relief. “Eligibility is based on the net annual value (NAV) of each business property and there are two levels of Small Business Rate Relief. Firstly, business properties with an NAV of £2,000 or less will receive a reduction of 50% relief and secondly those with an NAV of more than £2,000 but not more than £5,000 will receive 25% relief. “It is hoped that this will provide an average relief of between £300 and £430 per year which is a substantial amount of money for many enterprises under the current financial climate. “The SDLP is committed to helping businesses grow, particularly our indigenous firms which are the backbone of our local economy. These local companies will pave the way to economic prosperity and will give real employment opportunities to people in our community. “During this recession, small businesses need as much support as possible and the Assembly must look at better ways to stimulate their growth. “I urge all small businesses to familiarise themselves with this booklet and ensure that they are claiming their entitlements,” added Councillor O’Neill.]]>