Following on from our blog post last week about relief available in the Budget Stormont have announced a new batch of Rates Grants, mostly based around your business’ eligibility for the last few grants scheme and the NAV/rateable value of your premises.
We will try to jog your memory about which of the confusingly named scheme you may have received in the past in the text below:

£50,000 Rates Grants

  • £50,000 for businesses with a Net Annual Value (NAV) over £51,000 that are eligible for the 12 months rates holiday (retail, hospitality, leisure, tourism, manufacturing, childcare, newspaper producers).
  • Examples of the kinds of business that this will benefit are shops, car showrooms, garden centres, gyms and fitness suites, equestrian centres, and caravan parks.
  • The following exclusions apply: 3 main airports, businesses that qualify for the Department for Economy Large Tourism and Hospitality Business Support Scheme , sports clubs and culture, arts and heritage premises that qualify for one of the Department for Communities support schemes, food retail and petrol filling stations.
  • As with the previous grant schemes, only one grant will be paid for businesses with multiple premises. Businesses with vacant properties and businesses in administration will not receive the grant.
  • Businesses will have to apply for this grant.  As of now the application for this scheme has not been released

£25,000 Rates Grants

  • £25,000 payment for manufacturers with a Net Annual Value (NAV) between £15,001 and £51,000.
  • Payments will be automatic.

£10,000 Grant

£5,000 Grant

  • £5,000 for businesses that received the £10,000 Small Business Support Grant (the first small rates grant from early 2020) and have not been paid under the  Localised Restrictions Support Scheme (The second batch of grants payable only to business ordered to shut when the second lockdown started) or  Covid Restrictions Business Support Scheme: Part B. (The last batch of grants which required an application to Invest NI)
  • Businesses which have ceased trading since the £10,000 grant was paid and those paid the £10,000 grant in error (including constituency offices and wind turbines) are excluded.
  • Eligible businesses will include ‘essential retail’ currently allowed to remain open (such as hardware, butchers, home bakeries, delis, convenience stores, post offices, pet shops, pharmacies, paint and decorating shops, building suppliers, small manufacturing businesses, small professional services businesses (accountants, solicitors, financial services), allied health services (dentists, podiatrists, physiotherapists).
  • Payment will be automatic.