Tag : business rates
Business rates appeals drop 90%Subscription
Business rate appeals have fallen 90% in the first full year of the new Check Challenge Appeal system, compared with the last revaluations in 2010.
House of Fraser stores hit by rates hike Subscription
House of Fraser’s London stores were subject to soaring business rates following the government’s revaluation last year.
Retailers in London’s West End area are grappling against huge rises in business rates, with over 1,400 properties facing average business rates rises of £50,000.
Chancellor Philip Hammond has brought the next business rates revaluation forward by a year to 2021, in a move that has sparked mixed responses from the industry.
Retailers are calling for greater support from the government to revitalise the high street as footfall and sales continue to suffer amid rising business rates costs.
Business rates rises loom at 55,000 storesSubscription
More than 55,000 retail properties face a further business rates rise this April.
Business rates relief for small firms too slowSubscription
A £300m relief fund intended to provide business rates support to small businesses has been criticised for offering “false hope”, as it has been slow to pass on cash to businesses in need.
Rising costs and unsteady consumer confidence contributed to an increase in profit warnings and insolvencies last year, with the government warned it must take action to support the high street.
Business rates appeals plummet under new systemSubscription
The new business rates appeals system has come under fire after government data showed that the number of property owners contesting the tax has dropped.
Oxford Street stores will save little on their business rate bills when the rate calculation changes from the retail prices index (RPI) to the consumer prices index (CPI), property experts have warned.