The Northern Ireland Independent Retail Trade Association (NIIRTA) has welcomed today’s announcement of a review of Business Rates by DFP Minister Arlene Foster.
NIIRTA Chief Executive Glyn Roberts said:xa0“NIIRTA has long been calling for a fundamental review of Business Rates and so we welcome this announcement by Minister Foster.
“For independent retailers and small business owners, Business Rates is the key issue for their business and NIIRTA will be proposing new ideas on how to make rates fair, cost effective and fit for purpose in a rapidly changing economy.
“In our recently published Fifteen Point Plan we outline the need to extend the Small Business Rate Relief Scheme from £15k NAV to £18k NAV, reform rates to give greater flexibility with economic cycles, carry out rates revaluations every three years, introduce a Rural Retail Rate Relief Scheme and provide exemptions for small traders investing in expansion, allowing them to offset capital investment against their rates bills.”
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