Decision details

Amendment to Discretionary Business Rate Relief Policy

Decision Maker: Finance and Staffing Portfolio Holder

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

In the Budget on 8th March 2017, the Chancellor announced that the Government would establish a £300m discretionary fund over four years from 2017/18 to support those businesses that face the steepest increases in the business rates bills as a result of the revaluation. Local Authorities were required to design and implement their own local relief scheme to best meet the needs of their local businesses.

 

The Business Rates Discretionary Rate Relief scheme was amended at the Portfolio Holder Meeting in August 2017, setting out the key features of a local scheme. To date, we have awarded almost half of the funding available to those identified within the parameters of the scheme.

 

An amendment to the Policy has now been agreed by the Portfolio Holder, to state that where funds remain after all applications have been considered, the PFH may decide to vary the amount awarded in order to maximise the benefit to ratepayers.

Decision:

To ensure that the Council allocates the remaining  Business Rates Local Discretionary Scheme funding, the percentage of relief that is awarded to the Businesses identified in our scheme would change to the following:

 

Increase > 25%:

Initial Award 10%                            

Award additional 10%, giving a total 20% reduction.

                                          

Increase 20-25%              

Initial Award 10%                            

Award additional 5%, giving a total 15% reduction.

 

Increase 15-20%               

Initial Award 5%                               

Award additional 5%, giving a total 10% reduction.

 

Increase 10- 15%             

Initial Award 5%                               

Award additional 2.5%, giving a total 7.5% reduction.

 

The following amendments would allow for approximately £180k of further relief to be allocated. This would still leave around £36k for any additional cases that may arise.

Reasons for the decision:

The Council is required to ensure that it supports Businesses in their area that have faced the steepest increases in their Business Rates as a result of revaluation.

 

By amending the original percentages awarded the Council can award more relief to the Businesses identified in the scheme.

Alternative options considered:

None.

Publication date: 23/01/2018

Date of decision: 23/01/2018

Effective from: 31/01/2018