FINANCE Minister, Simon Hamilton MLA, has reminded business ratepayers that they are running out of time to submit their forms as part of the non-domestic revaluation.
The Minister delivered his message to business ratepayers at an event in the Bann Gallery in Coleraine Borough Council last Tuesday.
The event was hosted by Causeway Chamber of Commerce and Coleraine Borough Council in partnership with Land & Property Services (LPS).
In his address Simon Hamilton said: “Non-domestic rates have been in need of a review for some time now as current rates don’t reflect existing property values.
“It is imperative that business rates are rebalanced to ensure that the burden is shared and distributed fairly. In order for us to have the information to assess fair valuations, input from the business community is critical.
“So far we have received over 22,000 Forms of Return and I would take this opportunity to thank those within the busy community who have taken the time to make these returns.
“However, I would urge those businesses that haven’t provided their rental information to do so now, time is running out. You, the business community, have been calling for a revaluation for some time now so the success of this revaluation depends on as many businesses as possible to complete the forms.”
Ian Donaghy MBE, President of the Causeway Chamber of Commerce also backed the call for a speedy response from the business community.
He said: “It is important that Land & Property Services base their valuation on up to date and accurate information from business and property owners.”
Roger Wilson, Chief Executive of Coleraine Borough Council was also in attendance and commented: “I endorse the message from both the Minister and the Chamber of Commerce that all businesses respond properly to the revaluation survey and thank all those businesses for attending today’s informative event.”
A new Valuation List will be used from April 2015 as the basis for business rate bills. Businesses should have received a paper form by post; alternatively an online form is also available for most property types. All forms are also available to download from the website www.reval2015ni.gov.uk/forms.
It is important that businesses submit their form to allow valuation assessment.