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 type: Non-key
Decision status: Recommendations Approved
Wards affected: (All Wards);
Notice of proposed decision first published: 23/01/2018
Decision due: 23 January 2018 by Finance and Staffing Portfolio Holder
Lead member: Finance and Staffing Portfolio Holder
Lead director: Head of Finance
Contact: Katie Kelly, Revenues Manager 01954 713335 Email: katie.kelly@scambs.gov.uk Tel: 01954 713109.
Consultees
None.