• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Call us today!  028 3752 2909 or 028 8778 9500

  • Facebook
  • LinkedIn
  • Twitter

WHR Accountants

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH

Mobile Menu

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH
  • Facebook
  • LinkedIn
  • Twitter
Home » Blog » Rates Freeze Announcement Welcome News For Businesses

Rates Freeze Announcement Welcome News For Businesses

March 2, 2022 By //  by Des Ingham Leave a Comment

Finance minister Conor Murphy has confirmed that regional rates are going to be frozen once again this year in Northern Ireland. He is also providing a £50 million rates support package for the 2022/23 financial year and will be continuing with the Small Business Rate Relief. The rates freeze is equivalent to one months rate holiday for all with some businesses receiving up to 3 months holiday from paying. This is all good news for the business community as we move forward this year with a little more confidence.

Rates Support Package As Businesses Continue To Rebuild

Speaking about this decision to the Belfast Telegraph, Mr Murphy said that:

“As businesses continue to rebuild, I am announcing a further £50m rates support package to support the recovery. This will provide all businesses with a one month rates holiday with the exception of utilities and larger food stores while retail, hospitality, tourism, leisure, childcare, newspapers and airports will receive a three months rates holiday.

“Businesses in these hardest hit sectors have paid no rates since March 2020 and will now pay no rates until July 2022.

“Recognising the cost of living crisis, I had proposed as part of the draft budget a proposal to freeze both the domestic and non-domestic regional rates for the next three years.

“This freeze was intended to help with the rising costs being faced by families and businesses alike. While a final budget for the next three years has not been agreed by the Executive, I can proceed with this freeze for the first year. The Assembly backing today will freeze household and business rates for the next 12 months, giving households and businesses certainty in the immediate time ahead.

“The extension of the scheme sends a strong message of the important contribution of the small business sector.”

Businesses Need Certainty And To Be Able To Plan Ahead

The Minister concluded: “While it’s not possible to finalise the 2022-2025 Budget, businesses need certainty and to be able to plan ahead. These vital measures build on the around £1 billion support my department has provided through rates relief and Covid grants and will give businesses time to recover.”

All welcome news indeed for the whole business community. Finally, as ever, if any business requires assistance with any accountancy issues they may have, don`t hesitate to get in touch with our team here in Armagh on 028 3752 2909.

Category: General

Looking for immediate answers to your questions?

Schedule a no-cost consultation today!

This is a very useful Call To Action in the “After Entry” widget area. You can put whatever you’d like in it, and change the background color to whatever you’d like.

You May Also Be Interested In:

BGF To Play Its Part In Supporting Businesses Across The UK With Funding

NI Business Delegation Visit Westminster To Push For More Investment, Support & Less Regulation

Surge In Use Of AI By Northern Ireland Businesses

New UK – EU Deal To Remove Routine Checks On Animal & Plant Products

8 Reasons Why An Employer Should Use Our Payroll Services

Rural Business Development Grant Scheme Proves A Hit With Rural Businesses

Concern Over More Cash Payments To Staff After Employers National Insurance Contribution Hike

Celebrating Manufacturing Month In May

Labour Market Stays Strong In Uncertain Times

Previous Post: « Have You Filed Your Self Assessment Accounts Before The Deadline?
Next Post: Business Alliance Calls On Government To Restore Stability »

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

WE PROMISE YOU:

If you are finding the current economic situation tough, then rest assured, we understand the pressures you face as a business owner or manager. You don’t have to face the future alone. When you choose WHR, you have an ally, a partner, a friend, in both the good times and the tough times.

028 3752 2909
028 8778 9500

RECENT POSTS

Job Retention Scheme – Update

Dear Payroll Client We are trying to continue to run our …

BGF To Play Its Part In Supporting Businesses Across The UK With Funding

It is heartening to read that the Growth Capital Investment …

NI Business Delegation Visit Westminster To Push For More Investment, Support & Less Regulation

A business delegation from Northern Ireland, comprising of …

Surge In Use Of AI By Northern Ireland Businesses

Businesses up and down Northern Ireland have had no hesitation …

New UK – EU Deal To Remove Routine Checks On Animal & Plant Products

The agri-food deal which has been struck by the UK government …

8 Reasons Why An Employer Should Use Our Payroll Services

Employing an accountant like WHR Accountants to carry out your …

Footer

Director

James Robinson

Head Office

WHR Chartered Certified Accountants
028 3752 2909 or 028 8778 9500

56 English Street,
Armagh
BT61 7LG

Contact Us

Contact our office today. Our team are ready to help you. There is no better time than now.
Click Here →

Follow Us

Keep up to date with our social media

  • Facebook
  • LinkedIn
  • Twitter
  • Blog
  • Specialist Services
  • Privacy Policy

Website created by ZebWeb