Decision details

To consider changes to the Council’s Business Rate Discretionary Relief Policy to provide assistance to businesses.

In the March 2017 Spring Statement, The Chancellor announced measures to assist businesses following the revaluation of all Non-Domestic Properties from 01 April 2017.  Two of those measures need to be reviewed for 2018.  These are:

·         Revaluation Relief Support for businesses that have suffered the largest increases in their Business Rate Bills. Fareham will receive a maximum, of £311,000 funding over a 4-year period

·         Relief of up to £1,000 for public houses with Rateable Values up to £100,000.

This Council already has an established policy for granting Discretionary Rate Relief and the review will require a small amendment to that policy.  This report seeks to vary the local policy to incorporate those changes.

The Government will full reimburse local authorities for the local share of the discretionary relief granted.

RESOLVED that the Executive agrees to a small variation to the Business Rate Discretionary Relief Policy to allow relief to continue to be granted in the specific circumstances detailed in the report from 01 April 2018.