Decision details

Report of the Head of Finance regarding the calculation for the NNDR for 2015/16

The Cabinet had before it a report* of the Head of Finance providing it with an update of the income generation and financial implications of the number of business Rate properties in Mid Devon and requesting it to approve the NNDR1 (estimated income to be generated in 2015/16 from business rates). 

a)    The calculation of the NNDR1 net yield be noted and approved for 2015/16;

b)    That the proportions distributed to the respective authorities and central government be allocated as per the statutory regulations; and

c)    Central Government will reimburse the Council through a Section 31 grant to compensate it for the reduction in collectable business rates as a result of introducing further reliefs was noted and approved