Following the national business rates revaluation central government announced the availability of new reliefs, this report is to agree the newDiscretionary Business Rates Revaluation Policy for Herefordshire to be adopted with immediate effect.

That:

theDiscretionary Business Rates Revaluation Relief  Policy at appendix 1 be approved and implemented with immediate effect.

The council has received funding from central government to assist businesses facing sizeable increases in business rate charges due to the national revaluation process. This policy is to be applied to ensure the fair distribution of this funding to the businesses effected the most. To do nothing would result in funding available being returned to central government. The council could increase the relief to exceed the value of the funding available however to do so would result in unbudgeted expenditure so is therefore not recommended.