Decision details

Council considered a report recommending the calculation of the National Non Domestic Rates Budget 2015/16.  Under theprovisions ofthe Non-Domestic Rating (Rates Retention) Regulations 2013, by a direction under paragraph 43 of schedule 7B of the Local Government Finance Act 1988, localauthorities were required on or before 31st January to estimate and then notify the Secretary of State and any relevant precepting authorities of the amounts of each relevant precepting authority’s share of its non-domestic rating income for the relevant year.

Council approved the calculation as now detailed.

RESOLVED – that (A) in accordance with the Non-Domestic Rating (Rates Retention) Regulations 2013, theamount calculatedby East Herts Council for theyear 2015/16shall be £44,774,931 (Non domestic rating income from rates retention scheme;

(B)      the Council’s section 31 grant in relation to the Business Rates proposals within the ‘Autumn Statement’ shall be £1,306,680;

(C)      the estimated Collection Fund Deficit for 2014/15 of

-3,791,951 be allocated to the constituent bodies as detailed at paragraph 2.21 of the report submitted; and

(D)      the Council’s share of the estimated 2014/15 NDR Collection Fund deficit will be funded from a reserve.