Issue - meetings

The Chief Finance Officer submitted a report seeking approval for the National Non-Domestic Rates (NNDR) estimates and NNDR1 Return for 2016/17.

The Local Authorities (Calculation of Tax Base) Regulations 1992 (as amended) required the Borough Council as Billing authority to calculate the Tax Base for the Borough and the Parishes and to notify the Major Precepting Authorities (Derbyshire County Council and Derbyshire Fire Authority), and those Parishes which requested it, by 31^st January each year.

The Local Government Finance Act introduced the part-retention of income from Business Rates from April 2013. The income generated is to be shared between the Government (50%), the County Council (9%), the Fire Authority (1%) and the Borough Council (40%). The Council would then have to pay a tariff from its share of the income into a national pool (£11,138,000 in 2016/17). If Council’s share of the income was above a specified threshold (£3,087,390 in 2016/17) the excess amount would then be subject to a Levy at the rate of 50%. The Council joined a Derbyshire Pool in 2015/16 which would have the benefit of retaining the Levy within the County rather than paying it to Central Government.

The Council was required to complete and approve the NNDR1 Return, showing how the estimated income had been calculated and how it was to be shared.

The report gave details of how the tax base was calculated and also how the estimated net yield would be shared, together with the legal implications.

Delegated authority was sought for the Chief Finance Officer to make final changes if required prior to submission of the NNDR1 return to ensure the most accurate figures are submitted. 

*RESOLVED –

1)           That the estimated National Non Domestic Rates estimates as recorded on the NNDR1 Return (Appendix A to the report) be approved.

2)           That the Chief Finance Officer be given delegated authority to make any subsequent changes to the NNDR1 return that are identified before the final submission date of the 29 January, 2016.