Decision details

To approve the Council’s Business Rates Retention amount for 2024-25.

RESOLVED:  That:

(1)           the approach and assumptions for the calculation of the Council’s business rates yield as set out in the officer 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 2024-2025 shall be £13.221m as shown in the table below be agreed.

(3)           the Council's Chief Finance Officer (section 151 officer), following consultation with the Portfolio Holder for Finance and Resources, be authorised to submit the notification of the calculation of the estimated Non-Domestic Rates income to the Secretary of State and Greater London Authority (GLA), or revised figures (from those above) if further clarification was received from the Department for Levelling Up, Housing & Communities (DLUHC) on the financial impact of the proposed changes to the authority and how this was to be calculated;

(4)           the Council's Chief Finance Officer (section 151 officer), following consultation with the Portfolio Holder for Finance and Resources, be authorised to implement the announced Autumn Budget business rates measures, namely potential new or adjusted reliefs as may be described once the detail was known;

(5)           the policies set out in Appendices 1 & 2  to the officer report be agreed and the Chief Finance Officer be authorised to implement these and to make minor changes to them as needed.

Reason for Decision:  To fulfil the Council’s statutory obligation to provide estimates and calculations in relation to NDR for 2024-2025.