Key measures to support the sector
- Exploring support for people in the private/social rented sector
- Exploring support for people in crisis and emergency accommodation
- Launch of community support fund (getting essential support to people)
- £370 million grant support scheme for most vulnerable businesses
- Immediate grants of £10,000 will be provided to all small businesses who are eligible for the Small Business Rate Relief Scheme (those with NAV up to £15,000)
- Immediate grant of £25,000 will be provided to companies in the retail, tourism and hospitality sectors
- The schemes will be administered by the Department for Economy (DfE) / InvestNI working with Department of Finance's (DoF) Land and Property Services
Business rates
The Executive has already committed to providing a three-month rates holiday to all businesses from April to June 2020, automatically reducing the annual rate bill by 25 per cent.
Rate bills for 2020-21 were due to be issued in April 2020. To avoid placing financial pressure on ratepayers affected by COVID-19, rate bills will not be issued until June 2020, which will happen automatically.
The Hardship Rate Relief scheme is available for non-domestic ratepayers who have been affected by exceptional circumstances. It is only available on rates that are due, and if a business has been affected during March 2020.
At any time a ratepayer is experiencing any difficulty in paying a business rate bill, they are encouraged to contact Land and Property Services at the earliest opportunity.
Forthcoming announcement
A range of measures will be coming forward and over the coming days with daily Government updates.
The leaders pledged to be in regular and focused communication with the public and will be available daily to communicate and keep people updated on what actions and measures they are taking.
Today we stand united as leaders to help guide Northern Ireland – our people – through this time of unprecedented challenge.
It's a very difficult time and we know you need our full support and resources.
WHAT PROPERTYMARK IS DOING
On the back of members' comments, Propertymark is bringing these to the Government’s attention to ensure the sector’s voice is heard. We will inform members of any further progression.
