Business Rates Forecasting and RV Finder

Description

Business Rates localisation presents challenges for local authorities in relation to the calculation and forecasting of various elements of the business rates retention scheme. As an authority participating in the rates retention pilot scheme in Sandwell we currently retain 100% of the income generated through Business Rates. It is crucial we are able to manage our rating list effectively, forecast changes which may affect net collectable debit and maximise growth through early identification of commercial properties in the area. Rates avoidance is a serious concern and it is important that efforts are made to validate reductions applied as much as possible. In Sandwell large numbers of hereditaments receive Small Business Rates Relief but this will no longer apply if a company/organisation has more than one business in the same name. Sandwell MBC therefore require a company to provide Revenues Forecasting, RV Finder, Small Business Rates Relief Audit and Council Tax Property Finder. Lot 1: Business Rates localisation presents a variety of challenges for local authorities in relation to the calculation and forecasting of the various elements of the business rates retention scheme. As an authority participating in the rates retention pilot scheme in Sandwell we currently retain 100% of the income generated through Business Rates.It is crucial that we are able to manage our rating list effectively, forecast changes which may affect net collectable debit and maximise growth through the early identification of commercial properties in the area.Rates avoidance is a serious concern especially in the current climate and it is important that efforts are made to validate reductions applied as much as possible. In Sandwell large numbers of hereditaments receive Small Business Rates Relief but this will no longer apply if a company/organisation has more than one business in the same name. Sandwell MBC therefore require a company who can provide:• Revenues Forecasting• RV Finder• Small Business Rates Relief Audit• Council Tax property finderThe contract duration is for 4 years from 14 April 2024 – 13 April 2028.