Issue - meetings

Minute 137 refers

RESOLVED – that the Business Rates Revaluation Support Scheme 2017/18 – 2020/21, as now submitted, be approved.

(see also Minute 219)

The Executive Member for Finance and Support Services submitted a report seeking approval for the Business Rates Revaluation Support Scheme for 2017/18 - 2020/21. 

Following the Government’s national revaluation on all commercial premises in England and Wales, all such premises in the District had been assigned a new ‘rateable value’ by the Valuation office agency.  With effect from 1 April 2017, many businesses in the District had a higher business rates bill and so the Government had announced £300m of extra funding for local authorities to provide discretionary relief to those businesses facing increases in their business rate bills following the revaluation.  The Executive Member proposed a scheme for determining how this extra funding would be allocated.

The Executive recommended the proposed scheme as now detailed.

RECOMMENDED – that the Business Rates Revaluation Support Scheme as now submitted, be approved.