Agenda item

Business Rates Relief.

Report by Head of Resources (attached).

Minutes:

The Executive considered a report by the Head of Resources (circulated previously), the options and/or alternatives and other relevant facts set out in the report regarding the adoption of the revised policy for the granting of Discretionary Non-Domestic Rates Relief.

 

The Head of Resources highlighted the following:

 

·         Section 47 of the Local Government Finance Act 1988 enabled the Council to exercise discretion to award rate relief in respect of properties occupied by charities and other not for profit organisations.   It also allowed billing authorities to grant locally determined discretionary business rate discounts in any circumstances provided it was in the interests of the local taxpayers to do so.

·         In the 2018 Autumn Budget, the Chancellor announced a new business rate relief scheme for retail properties with a rateable value below £51,000.  The Chancellor also announced an extension of one year to the business rates relief for local newspaper office space.

·         The Council’s current policy for the Discretionary Business Rate Relief Scheme for Year 3 (2019/20) was to award relief on a case by case basis.  A review had identified that this approach was unlikely to award all of the share of the fund allocated by Central Government.  The proposal was that the amount of relief awarded for Year 3 was amended from a case by case basis to a formula based award. 

·         The policy had been amended to incorporate the measures announced in the Autumn Budget and the revised Discretionary Business Rate Relief Scheme.

 

In response to questions, the Head of Resources advised the following:

 

·         Barnstaple Town Centre Management had not been previously notified of the revised Discretionary Business Rate Relief Scheme, however a copy of the scheme would be forwarded to the Town Centre, Pannier Market and CCTV Manager.

 

DECISION

 

That the revised policy for the granting of Discretionary Non-Domestic Rates Relief attached Appendix 1 and Appendices A-K with effect from 1 April 2019 be adopted.

           

REASONS FOR DECISION

 

(a)

It is good practice for the Council to have readily understood guidelines for deciding whether or not to grant relief and for determining the amount of relief. It is also desirable that any criteria by which an individual case is judged should be made public to help interested individuals and bodies.

 

(b)

In order to stimulate local business growth and retain local businesses and jobs within North Devon, it is proposed the Council applies available powers to offer the extension to Local Newspaper Relief, the new Retail Discount and the amended Discretionary Business Rate Relief Scheme to businesses when it is evident that this would be a real benefit to local taxpayers to do so. The purpose of this new policy is to attract, develop and retain businesses within the District, encouraging them to expand, create jobs and provide economic value to the area.

 

(c)

To incorporate the new business rate reliefs announced in the Autumn Budget and the amendment to the Discretionary Business Rate Relief Scheme in to the policy for the granting of Discretionary Non-Domestic Rates Relief.

 

 

Supporting documents: