The Northern Ireland Executive has launched a consultation on proposals to expand the business rates relief provided to small businesses.
The small business rate relief scheme currently provides a discount of between 20% and 50% for businesses in Northern Ireland with a net annual value of up to £15,000.
The rates haven’t changed since 2012 and the Executive has suggested four possible proposals to increase the level of reductions and expand the relief to businesses valued up to £20,000.
Finance minister John O’Dowd said: “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 £22.5 million 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.
“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.”
The consultation is here and closes on 29 January at 11.59pm.