Issue - meetings

Report of the Head of Corporate Resources

Further to Minute No. 7 of 13 June 2017 the Committee considered the report of the Head of Corporate Resources on the Discretionary Relief for Business Rates following the Revaluation of 2017.

The report indicated that under business rates regulations the Valuation Office Agency was required to review and revise the rateable value of all business properties recorded on the local rating lists in England on a regular basis (usually every five years); that the latest revaluation was implemented from the 1 April 2017; that the purpose of the revaluation was not to raise additional business rates income but to ensure that rateable values reflected the most up to date rental information available; but however, a number of businesses inevitably saw their business rates increase as a result of revaluation.

The report also provided information on the review of the Council approved local discretionary revaluation relief scheme for 2017/18; which showed that as at 27 April 2018, the Council had awarded discretionary revaluation relief to 1,147 accounts; that the total amount of relief awarded was £543,877 in 2017/18, approximately 98.6% of the total available government funding; and that the final amount of relief awarded was expected to change over time as the valuation of business properties changed as a result of appeals and other factors.

The report concluded by detailing the scheme proposals for 2018/19, 2019/20 and 2020/21 and the Grant award and financial monitoring and that an annual review of the local discretionary revaluation relief scheme and the outcome of this review would be reported to the Cabinet Member - Regulatory, Compliance and Corporate Services.

Attached as annex to the report was a copy of the draft Business Rates Locally Administered Discretionary Revaluation Relief Scheme Guidance for 2018/19, 2019/20 And 2020/21 that would be considered by both Cabinet and Council.

Members asked questions/raised issues on the following matters:-

·       Awards under the scheme that were limited by State Aid which allowed an undertaking to receive no more than 200,000 euros

·       Applications for discretionary rate relief to non-profit making and charitable organisations

·       An assurance was sought that the Council would do everything possible to ensure that there was no underspend of Grant

RESOLVED:

That the report on the Discretionary Relief for Business Rates following the Revaluation of 2017 be noted.