Issue - meetings

To request that the Finance and Resource Committee adopt the proposed new business retail rates relief scheme for the 2019/20 and 2020/21 financial years. 

The Government announced in the Autumn Budget on 29 October 2018 that it would provide business rates relief of up to one-third to all occupied retail properties with a rateable value of £51,000 or less in each of the years 2019-20 and 2020-21.

As this was a measure for 2019-20 and 2020-21 only, the Government would not change the legislation around the reliefs available to properties. However, the Government would, in line with the eligibility criteria set out guidance, reimburse local authorities that use their discretionary relief powers, introduced by the Localism Act (under section 47 of the Local Government Finance Act 1988, as amended) to grant relief.

RECOMMENDED to Council that the appended New Retail Discretionary Relief Scheme for financial years 2019-20 and 2020-21 be approved.