Each year business rates generate over £655m across the North. The consultation is looking at how this amount might be raised without placing an unacceptable burden on business ratepayers.

It is seeking views on a number of areas including; how the tax base could be widened to facilitate a lower level of individual bills, whether the current suite of reliefs and exemptions are what we need going forward and do they recognise ability to pay as well as what other taxation options could be considered to raise revenue.

The Department of Finance is currently running a consultation on business rates which will close on November 11th.

Alan Bronte, Director of Rating Policy at the Department of Finance, recently briefed Fermanagh Council, Enniskillen Bid and Omagh Chamber of Commerce on the consultation. 

Speaking about the Business Rates consultation, the chairwoman of Fermanagh and Omagh District Council, Councillor Siobhan Currie, said, “The Council welcomes the review by the Department of Finance on Business Rates and will make a formal response to the Consultation. The Council thanks the Department for ensuring continuing local government and local ratepayers involvement in the development of new rates policy.”

For further information on the consultation visit www.finance-ni.gov.uk/business-rates.