Pubs of Ulster react to Revaluation of Business Rates
13 November 2014
Pubs of Ulster has today commented on the online release of draft rateable values of business properties by Finance Minister Simon Hamilton.
Reacting to the news, Colin Neill, Chief Executive of Pubs of Ulster said:
“We have been expecting a revaluation of business rates for some time now, so our members have been anticipating this news and the effect it will have on their businesses.
“The news today from the Finance Minister has shown there are winners and losers. The regenerated Cathedral Quarter has seen an increase in non-domestic rates which is clearly reflective of the growth in that area in recent years. That will be a tough pill for those businesses to swallow however.
“We welcome the fact that some of the licensed trade will see a reduction in their rates and certainly in the majority of cases, these processes are revenue neutral for businesses.
“This however is based on an initial review of the figures and we will need to take a deeper look to see the real impact of this. A bigger concern for the hospitality industry will be the how the new councils strike their district rates in the coming months.”