Responding to COVID-19: insight, support and guidance
Welcome to the joint Finance Advisory Network and CIPFA Benefits and Revenues Service resource hub for business rates retention.
We'll be using this page to signpost all our event materials on this topic, along with helpful links to key MHCLG and other websites, and to record everything we are finding out about this evolving topic!
Do note that, as we are learning more about business rates retention every day, some older material may be out of date or superseded by new information. Please always look at the date on materials to assess their relevance.
To provide reassurance and support in your approach to collection fund accounting, FAN produces the Collection Fund Accounting Models to assist practitioners with the complexities of accounting for council tax and business rates. The models do not constitute official guidance but are intended to support practitioners in their understanding of the collection fund and subsequent general fund year-end accounting requirements.
The 2020/21 models are now available, for more information contact Caroline Newman.
The Rough Guide to Collection Fund Accounting (March 2019) covers accounting and budgeting for the collection fund and subsequent general fund implications, not only at year end but throughout the year. It also covers the considerations of monitoring and forecasting for collection fund and NNDR pooling, policy implications and case studies of the impact of business rates in option appraisals and decision making. This document is not official CIPFA guidance – hence its rough guide title – but a tool to hopefully complement the FAN council tax and NNDR accounting models for 2018/19.
Extract from LAAP Bulletin 15 – accounting requirements for community charge residual adjustments.
FAQ Document on the new 2017/18 Discretionary Rate Relief scheme – questions on accounting and amount of relief that can be awarded. In an update to this FAQ, government has now decided that the grant allocations will not be allowed to be carried forward if they are not all used in the year they relate to.
There are also various CIPFA Network News articles on this subject, which you may find of interest.
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