Issue - meetings
Business Rate Write Offs in excess of £25,000
Meeting: 14/03/2023 - Cabinet (Item 140)
140 Business Rate Write Offs in excess of £25,000 
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Additional documents:
Decision:
As detailed in the recommendation.
Minutes:
Councillor Mullin introduced the report and explained that for individual bad debts more than £25,000, Financial Procedure Rules (section 5.2) required Cabinet to approve recommendations to write off debts.
Two Business Rates debts totalling £112,526 were deemed to be irrecoverable and write offs were necessary due to Insolvency.
Both companies had ceased trading, were insolvent and were officially in
administration or liquidation and in the final stages of being wound up at Companies House. The Business Rate liabilities had now ended in both cases and since unpaid Business Rates were classed as non-preferential debts, there was little or no assets available for non-preferential creditors and successful recovery of the business rates debts was no longer possible.
There were no direct financial implications for the Council or local taxpayers as business rates losses were borne by the National Collection Pool for Wales.
RESOLVED:
That the two write offs totally £112,526, consisting of £37,856 for A.C. Canoe Products (Chester) Limited and £74,670 for FTS Hatswell Limited be approved.