Issue - decisions
Business Rates Forecast 2023/24
03/02/2023 - Business Rates Forecast 2023/24
That the calculation of the Council’s
business rate forecast for the year 2023/24 as set out in this
report be approved. The total forecast Business Rate income for
2023/24 is £64.574m, of which the Council will retain
£19.254m after allowing for the required tariff payment of
£41.445m and the WoE Combined Authority and Fire Authority
shares as shown in Table 1 of the report.
That the projected surplus on the collection fund as at the end of
2022/23 related to Business Rates is declared at £5.348m
including £0.988m of the deficit budgeted for recovery in
2022/23 in line with the Local Authorities (Collection Fund:
Surplus and Deficit) (Coronavirus) (England) Regulations 2020 (SI
2020/1202). The Council’s share of the surplus is
£5.027m.