In the Autumn Statement on 17 November, the Government announced
· A 2023/24 Retail, Hospitality and Leisure (RHL) rate relief scheme providing 75% relief up to £110k per business.
· A new Support Small Business (SSB) relief scheme for 2023/2 to ensure no small business faces a bill increase greater than £50 per month for 2023-24 as a result of losing eligibility for Small Business Rates Relief or Rural Rate Relief.
The Council will need to use their discretionary relief powers (under section 47 of the Local Government Finance Act 1988 as amended) to create a policy to grant RHL & SSB in line with the relevant eligibility criteria. The Council will be compensated for the cost of granting the discount through a section 31 grant from Government.
Decision type: Key
Decision status: Recommendations Approved
Decision due: 6 Feb 2023 by Mid Suffolk Cabinet
Lead member: Mid Suffolk Cabinet Member for Finance
Lead director: Director - Corporate Resources
Department: Corporate Resources
Contact: Melissa Evans, Director - Corporate Resources and Section 151 Officer Email: melissa.evans@baberghmidsuffolk.gov.uk.
Unique Reference Number: CAB408