Issue details

PH-002-2023 - Business Rate Relief 2023/24

 

 

This report covers two new business rate reliefs that the Government has announced for 2023/24.

The 2023/24 Retail, Hospitality and Leisure Business Rates Relief Scheme will provide eligible, occupied, retail, hospitality and leisure properties with a 75% relief, up to a cash cap limit of £110,000 per business. This scheme will operate for the 2023/24 year only.

The 2023 Supporting Small Business Relief Scheme will limit increases in bills for small and medium properties where there was a significant increase in the property’s rateable value at the 2023 Revaluation. This scheme will operate for the years 2023/24 to 2025/26.

As both schemes are designed for a limited period only, the Government is not making changes to legislation, but instead providing detailed guidance, and asking local authorities to use powers under s47 of the Local Government Finance Act 1988 to set up the schemes. Government will then fully repay the cost of relief awarded in line with their guidance.

Decision type: Key

Decision status: Recommendations Approved

Notice of proposed decision first published: 13/02/2023

This decision will be taken under urgency procedures.

Reason for urgency:
This urgent portfolio decision is to allow DBC to implement the governments revised business rates relief policies set out on the local government settlement. As government do not have time to set this out in statute each authority is required to seek approval. This will allow DBC to allocate rates relief to those businesses as set out by government policy.

Decision due: 13 Feb 2023 by Portfolio Holder for Corporate & Commercial Services

Contact: Chris Baker, Head of Revenues and Benefits Email: chris.baker@dacorum.gov.uk.

Decisions