Issue - meetings

To inform members of business rates performance during quarter 2 and to provide an update on pooling arrangements.

An update on business rates performance and pooling arrangements was provided. It was noted that more income had been received than had been accounted for in the MTFS which would assist with forthcoming pressures. In relation to the Government’s 100% business rates retention pilot, it was noted that there would still be a tariff to pay and exact details were not known.

The cost to the council in business rates of empty properties such as those in the Crescent and the former Co-op was discussed.

To inform members of business rates performance from 1 April – 30 June 2017 and to provide an update on pooling arrangements for 2017/2018.

Finance & Performance Scrutiny received an update on business rates performance from 1 April to 30 June 2017 and on pooling arrangements for 2017/18. It was noted that the business rates performance was positive but was regularly monitored as it was liable to fluctuate dramatically. In relation to pooling, it was noted that Leicestershire authorities were applying to the government to join a pilot scheme for 100% business rates retention.