Decision details

Agree to write of business rate and commercial rent irrecoverable debts.

Exempt report of the Chief Executive on the write-offs of over £50,000.

(1)       The Decision Taken

RESOLVED:

(unanimous)

(1)   Cabinet agreed a non-domestic rates write off.

(2)   Cabinet agreed a commercial rent write off.

(2)       Reasons for the Decision

There were two companies involved. The report set out the efforts made to recover the debts.

Business rate write-offs were required in respect of Thorns Group, and Peacocks.  The Council’s share of this would be 40%.

The Council also has to write off commercial rent in respect of Peacocks as a Council tenant. The Council had to bear the full extent of this loss.

The write-offs were, in each case, covered by our previously established bad debt reserves, and it was felt that these reserves remain adequate.  No further change to the General Fund was required.