Derby City Council is to review its Discretionary Rate Relief (DRR) policy to take account of a number of changes.
DRR is a means by which the Council can use its discretionary powers to reduce the amount of Business Rates a business has to pay. The DRR Policy allows us to carefully manage who qualifies for relief.
The Council’s policy is being refreshed to take account of a number of changes including; updating the qualifying criteria of certain schemes so that spend is better aligned to Government grants and updating other schemes in line with announcements made at Autumn Budget 2017.
Revaluation Support Relief is one of three temporary measures announced by the Government at the Spring Budget 2017 aimed at giving financial support, in the form of reduced Business Rates bills, from 1 April 2017.
The Council has been given a limited amount of money to operate a local scheme and is changing its policy to make sure that it spends all of the money it has been given and in doing so offers help to more businesses within the City.
The other two temporary measures are Supporting Small Business Relief and Pub Relief. Originally, the Government said that the Pub relief scheme was due to run for just one year but has now been extended for 2018/19. In 2017/18 the Council awarded just over £100,000 worth of Pub Relief to 102 qualifying establishments and is changing its policy so that a similar amount of Pub Relief can be awarded in the 2018/19 financial year. .
Much of the policy, including the criteria for awarding Reliefs to charities and non-profit making organisations has not changed as a result of this update.
Councillor Baggy Shanker, Cabinet Member for Finance and Governance said: “These are important changes to our policy which will enable the Council to support even more local and growing businesses.”