To consider a report of the Executive Member for Finance and Director of Finance.

1. That the content of the report be noted.

2. That approval be given for the Retail Rate Relief to be increased to up to £1,500 for 2015/16 for all occupied retail properties with a rateable value of £50,000 or less (as per the policy). Such increase to apply from 1 April 2015 to 31^st March 2016.

3. That approval be given for the Transitional Relief scheme, to apply from 1 April 2015 to 31^st March 2017.

4. That the existing National Non-Domestic Rates (NNDR) Discretionary Rate Relief Policy be amended as set out at Appendix 1 to the report to reflect the increased Retail Rate Relief amount and introduction of the Transitional Relief scheme.

The Executive Member for Finance and Director of Finance submitted a report which sought approval to amend the Council’s National Non-Domestic Rates Discretionary Rate Relief Policy to maximise government funding available, and to extend the transitional relief scheme to 2016/17.

            RESOLVED -

(1)        That the content of the report be noted.

(2)        That approval be given for the Retail Rate Relief to be increased to up to £1,500 for 2015/16 for all occupied retail properties with a rateable value of £50,000 or less (as per the policy). Such increase to apply from 1 April 2015 to 31^st March 2016.

(3)        That approval be given for the Transitional Relief scheme, to apply from 1 April 2015 to 31^st March 2017.

(4)        That the existing National Non-Domestic Rates (NNDR) Discretionary Rate Relief Policy be amended as set out at Appendix 1 to the report to reflect the increased Retail Rate Relief amount and introduction of the Transitional Relief scheme.