Issue - meetings

Report of the Corporate Director (Resources, Environment and Cultural Services) on a pilot scheme for business rates retention.

Delegated authority was given to the Corporate Director (Resources, Environment and Cultural Services), in consultation with the Executive Member (Resources), to submit an application for the 2019/20 Business Rates Pilot/Pooling arrangement for Hertfordshire, if after full consideration, there was a financial case for doing so.

Report of the Corporate Director (Resources, Environment and Cultural Services) on a pilot scheme for business rates retention.

(1)        The Decision Taken

RESOLVED:

That delegated authority be given to the Corporate Director (Resources, Environment and Cultural Services), in consultation with the Executive Member (Resources), to submit an application for the 2019/20 Business Rates Pilot/Pooling arrangement for Hertfordshire, if after full consideration there was a financial case for doing so.

(2)        Reasons for the Decision

The Government had invited local authorities to submit applications to join a 75% business rates scheme in their area for 2019/20. 

Hertfordshire had submitted a business rates pilot application last year, but was not successful. 

There were a number of advantages in signing up to the pilot, in particular, the Council would be able to retain 75% of the business rates growth within the pilot area which was much higher than the 20% the Council was allowed to retain under the current system and the levy paid to central Government on business rates growth no longer applied under a 75% pilot.

All the eleven local authorities in Hertfordshire would need to agree in order for Hertfordshire to be accepted as a business rates pilot.

Applications for a business rates pilot and a pooling scheme must be made to the Government by 25 September 2018.