URL: https://moderngov.harrow.gov.uk/ieDecisionDetails.aspx?ID=63155

Decision Maker: Cabinet

Outcome:

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: To approve the Council’s Business Rates Retention amount for 2025-26  

Content: To approve the Council’s Business Rates Retention amount for 2025-26   RESOLVED:  That   (1)            the approach and assumptions for the calculation of the Council’s business rates yield as set out in the officer’s 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 2025-2026 shall be £15.529m be agreed as shown in the table below:       £m   Projected NDR Income 2025/26 51.763 Less Payable to MHCLG (33% Central Share) (17.082) Less Payable to the Greater London Authority (37%) (19.152) Equals Amount to be retained by Harrow (30%) 15.529       Add Section 31 Grant 3.680   Total 19.209   (3)            that 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 GLA, or revised figures (from those above) if further clarification is received from the Department for Housing & Communities & Local Government (MHCLG) on the financial impact of the proposed changes to the authority and how this is to be calculated.   (4)            that 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 is known.   (5)            the attached policies set out in Appendix 1 of the officer’s report be agreed, and the Chief Finance Officer be authorised to implement these and make minor changes to them as needed.   Reason for Decision:  ‘The Council’ had a statutory obligation to provide estimates and calculations in relation to NDR for 2025-2026.

Date of Decision: December 17, 2024