Issue - meetings

Report of the Deputy Chief Executive

The Leader MOVED, seconded by Councillor D J Knowles:

That the recommendations of the Cabinet as set out in Minute 159 be ADOPTED.

Upon a vote being taken the MOTION was declared to have been CARRIED.

Reason for the Decision – This is a statutory function and is a legal requirement. The Council must set its budget annually on the tax base and the NNDR1 projected values.

Report of the Deputy Chief Executive, this item will be discussed under the general exception clause.

The Cabinet were presented a report* which provided an update of the income generation and financial implications of the number of Business Rate properties in Mid Devon. The report sought to approve the NNDR1 (estimated income to be generated in 2023/24 from business rates). There was a statutory deadline for notifying Precepting Authorities and the Government by 31 January 2023 of their appropriate shares in accordance with the Non Domestic Rating (Rates Retention) Regulations 2013 Regulation 2(b). The Government return had been submitted and Preceptors informed of the estimated income.

RESOLVED to recommend to Full Council:

1.     That the calculation of the NNDR1 net yield of £16,921,552 from 3,519 Business Rated properties is noted for 2023/24;

2.     That the proportions distributed to the respective authorities and Central Government be allocated as per the statutory regulations; and

3.     That Members note that 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 various reliefs under section 47.

(Proposed by Cllr B G J Warren and seconded by Cllr G Barnell)

Reason for Decision: As stated in the report

Note: *report previously circulated and attached to the minutes

The Cabinet were presented a report* which provided an update of the income generation and financial implications of the number of Business Rate properties in Mid Devon. The report sought to approve the NNDR1 (estimated income to be generated in 2023/24 from business rates). There was a statutory deadline for notifying Precepting Authorities and the Government by 31 January 2023 of their appropriate shares in accordance with the Non Domestic Rating (Rates Retention) Regulations 2013 Regulation 2(b). The Government return had been submitted and Preceptors informed of the estimated income.

RESOLVED: The Cabinet is asked to recommend to Council the contents of the report.

1. That the calculation of the NNDR1 net yield of £16,921,552 from 3,519 Business Rated properties is noted for 2023/24;

2. That the proportions distributed to the respective authorities and Central Government be allocated as per the statutory regulations; and

3.    That Members note that 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 various reliefs under section 47

(Proposed by from the Chair)

Reason for Decision: As stated in the report.

Note: *report previously circulated and attached to the minutes