Cabinet considered the report of the Chief Finance Officer which sought consideration for the setting of the Business Rates baseline for 2021/22 in accordance with the Local Government Finance Act 1988 and the Non-Domestic Rating Regulations 2013; and approval of  the precept payment dates for 2021/22.

Alternatives considered:

No alternative is available, as the Council has a statutory requirement to estimate and set a Business Rates Baseline each financial year.

Resolved:

1.    That Council be recommended to approve:

a)     the draft Business Rate baseline figure of £63.251m for 2021/22, subject to any changes which may result from:

·         the provisional Local Government Finance Settlement 2021/22;

·         a change to the current pilot scheme for 100% retention of Business Rates;

·         the issue of the Ministry of Housing, Communities & Local Government (MHCLG) guidance on completion of the 2021/22 Business Rates baseline return (NNDR1), due in January 2021.;

b)    that the Chief Finance Officer, in consultation with the Cabinet Member for Finance, be authorised to conclude and agree the final Business Rates baseline return (NNDR1) due on 31 January 2021, should the final information yet to be received from MHCLG change the baseline figure for 2021/22;

c)    that the precepts payment schedule detailed in paragraph 4.2 of the report be approved.

Reasons for the decision:

The Non-Domestic Rating (Rates Retention) Regulations 2013 (SI 2013/452) require billing authorities to notify the Secretary of State and their major precepting authority of their calculation of non-domestic rating income for the following financial year and the estimated surplus/deficit on the Collection Fund by 31st January each year.

The figures are produced subject to the MHCLG guidance being published and provided, following which the figure in this report may have to be revisited