Issue - meetings

Lincolnshire Business Rates Pool 2018/19

Meeting: 19/09/2017 - Cabinet (Item 22)

22 Lincolnshire Business Rates Pool 2018/19 pdf icon PDF 66 KB

To seek approval for South Holland District Council  to be re-admitted to the Lincolnshire Business Rates Pool for 2018-19 (report of the Portfolio Holder for Finance is enclosed).

Minutes:

Consideration was given to the report of the Portfolio Holder for Finance which sought approval for South Holland District Council to be re-admitted to the Lincolnshire Business Rates Pool for 2018-2019

 

It was reported that the rates appeals lodged by the power stations were largely resolved.  One no longer stood, and the second was awaiting resolution of a minor matter.

 

The benefit of being in the Pool was that local authorities could retain 60% of growth.  However, any reduction in business rates (such as some public bodies obtaining a charitable exemption) would be a risk to the Pool and would not be protected by the current ‘safety net’.  Officers confirmed that as authorities entered the Pool, they would be looking forward to assess and identify any potential risks

 

DECISION:

 

a)    That the re-admittance of South Holland District Council to the Lincolnshire Business Rates Pool for 2018-19 and subsequent years be approved; and

 

b)    That delegated authority be given to the S151 Officer in consultation with the Portfolio Holder Finance, to confirm the arrangements with the other Lincolnshire local authorities.

 

(Other options considered:

·         To not join the Lincolnshire Business Rates Pool.

Reasons for decision:

·         The projected figures for the Lincolnshire Business Rates Pool present SHDC with a potentially significant financial gain, since the rates appeals lodged by the power stations had been largely resolved.)