Purpose

To set the estimates for Wolverhampton
Collection Fund 2025-2026, which the Council manages on behalf of
local precepting bodies and central government; and to receive an
update on the Provisional Local Government Finance Settlement.

Decision

1.    
That the Collection Fund Council Tax Base for 2025-2026 for Band D
equivalent properties be set at 67,797.54.

 

2.    
That the Collection Fund Business Rates, also referred to as
Non-Domestic Rates (NDR), Net Rate Yield for 2025-2026 be set at
£80.0 million.

 

3.    
That authority be delegated to the Cabinet Member for Resources, in
consultation with the Director of Finance, to approve amendments
to:

 

a.  
The final Business Rates Net Rate Yield as required as a result of
changes to the NNDR 1 form (National Non-Domestic Rates return) by
the Ministry of Housing, Communities and Local Government or data
revisions and changes in projections.

 

b.  
The Council Tax Base as a result of any data revisions and changes
in projections.

 

4.     
That the following extensions to the local Business Rates
Discretionary Relief Policy be approved:

 

a.     
In respect of charitable and voluntary organisations for one year
from 1 April 2025.

 

b.     
In respect of Retail, Hospitality and Leisure Business Rates relief
scheme for one year from 1 April 2025.

 

c.     
In respect of transitional relief for the period from 1 April 2025
to 31 March 2026.

 

d.     
In respect of supporting small businesses for the period from 1
April 2025 to 31 March 2026.

 

5.     
That it be agree that applications for discretionary rate relief
should be made within the financial year for which relief is being
sought effective from 1 April 2025. Delegate authority to the
Section 151 Officer in consultation with the Head of Revenues and
Benefits to award relief in exceptional circumstances for
applications received after this time.

 

6.     
That authority be delegated to the Section 151 Officer in
consultation with the Head of Revenues and Benefits to award relief
in individual cases which satisfy the criteria for the categories
of discretionary rate relief in accordance with Section 47 Local
Government Finance Act 1988.

 

7.     
That the outcome of the 2025-2026 Provisional Local
Government Finance Settlement and implications be noted.