More information has been released on the Northern Ireland retail “Back in Business’ scheme, which was announced last month by the Finance Minister Conor Murphy.
The Back in Business scheme is administered by Land & Property Services (LPS) and offers businesses a 50% rates discount for up to two years if they occupy a vacant retail unit.
Eligibility
- You may be eligible for assistance under this scheme if you are business ratepayer who has moved into premises, which were previously used for retail purposes and had been unoccupied for 12 months or more.
- The property must have been previously valued for rates and used for retail purposes when it was last occupied. If the property has never been occupied before then it must be used for retail purposes when it becomes occupied.
- “Retail purposes” means the retail provision of goods or services to members of the public who visit the property.
- The rates discount of 50% is granted for 24 months beginning on the day which the retail unit becomes occupied.
- The scheme will open for applications in May 2022 and applications will be accepted up to 1 April 2023.
For more information go to: Back in Business rate support | nibusinessinfo.co.uk