COVID-19: Member Update regarding Rates
As Government responds to the COVID-19 outbreak, Belfast Chamber will seek to inform members about what support is being made available, what it covers and how it can be accessed. This is a fast evolving situation and there will undoubtedly be a delay between a policy announcement and the detail becoming clear but Belfast Chamber will do its best to keep you up to date.
On Tuesday evening, the Department of Finance announced a £100 million emergency rates package for businesses. The information released so far by the Department shows that:
- There will be a 3 month rate-free (covering April, May or June) for all businesses;
- This will reduce rates by 25% and will be in addition to any reliefs that a business already receives;
- This support does not need to be paid back;
- The Executive has also announced that it will also be reducing the regional business rate;
We anticipate that further announcements about additional support will be made by the Executive in due course and Belfast Chamber will continue to keep you informed as best we can.