Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
RESOLVED: That
(1) the approach and assumptions for the calculation of the Council’s business rates yield, as set out in this report, be noted;
(2) in accordance with the Non-Domestic Rating (Rates Retention) Regulations 2013, the amount calculated by the London Borough of Harrow as its business rates yield for the year 2020-2021 shall be £14.942m, as shown in the table below;
|
|
£m |
|
Projected NDR Income 2020/21 |
49.806 |
Less |
Payable to DCLG (33% Central Share) |
(16.436) |
Less |
Payable to the Greater London Authority (37%) |
(18.428) |
Equals |
Amount to be retained by Harrow (30%) |
14.942 |
|
|
|
(3) the Council's Chief Finance Officer (section 151 officer) be authorised to submit the notification of the calculation of the estimated Non-Domestic Rates income to the Secretary of State and the Greater London Authority (GLA) by 31 January 2020 or other date as may be prescribed;
(4) the Council's Chief Finance Officer (section 151 officer) be authorised, following consultation with the Portfolio Holder, to submit revised figures (from those above) to the Secretary of State and GLA, if further clarification is received from DCLG on the financial impact of the proposed changes to the authority and how this is to be calculated.
Reason for Decision: To fulfil the Council’s statutory obligation to provide estimates and calculations in relation to NDR for 2020-2021.
Alternative Options Considered and Rejected: As set out in the report.
Conflict of Interest relating to the matter declared by Cabinet Member/Dispensation Granted: None.
Publication date: 10/01/2020
Date of decision: 09/01/2020
Decided at meeting: 09/01/2020 - Cabinet
Effective from: 18/01/2020
Accompanying Documents: