New businesses tenants will no longer be stuck paying rates arrears from old tenants when they take over a new premises after the Government today intervened to end the practice.
The amendment will mean the new tenants will no longer be liable for the rates arrears of previous tenants. This will allow new businesses to take up new premises and existing businesses to change premises without the fear of having a massive rates bill hanging over them after they move in.
This comes after Phil Hogan, the Minister for the Environment, Community and Local Government, accepted legislation put forward by Waterford Deputy Paudie Coffey.
Business group, ISME, said it has been lobbying for this change for many years, which will have a positive impact on businesses all over the country.
“Under the old legislation, which dates back to 1838, tenants who left a property with rates arrears are not liable and instead the new tenant is forced to pay the rates arrears. This was a major barrier to businesses countrywide taking over new premises. The amendment will mean the new tenants will no longer be liable for the rates arrears of previous tenants. This will allow new businesses to take up new premises and existing businesses to change premises without the fear of having a massive rates bill hanging over them after they move in,” it said.
