Tag : business rates
Drapers’ survey shows independent businesses are currently battling to survive amid high street headwinds, with more than a quarter reporting they are not profitable. It found that the survival of the independent sector will require significant action from local councils and wider government.
BRC 'welcomes' Tory business rates pledgesSubscription
The British Retail Consortium (BRC) has welcomed a promised review of the business rates system unveiled as part of the Conservative manifesto.
Conservatives pledge to help 'left-behind' towns Subscription
The Conservatives have pledged to reduce business rates for small businesses in a bid to help ‘left-behind towns’ if they win the general election.
Fashion retailers are calling for urgent action following the Treasury select committee’s report on business rate reform.
MPs condemn 'broken' business rates system Subscription
The retail industry has welcomed a new Treasury select committee report on business rates, which identifies a number of flaws in the current system.
Retailers to face £137m business rates hikeSubscription
Retailers will have to pay an extra £137m next year after it was confirmed that inflation costs will increase by 1.7% in 2020/21.
Chancellor ‘missed a trick’ on business ratesSubscription
Chancellor Sajid Javid’s debut spending review has been met with disappointment over its lack of action on business rates.
Total UK business rates could be increased by £662m next year, if the current rate of inflation (2.1%) does not change before September’s CPI figure is released.
The government’s Future High Streets Fund will not go far enough and the money should instead be used “to remove downwards transitions and reduce the [business rates] multiplier”, a reteil property expert has claimed.
100,000 business rates appeals lodgedSubscription
English councils are expected to collect £25bn in business rates this year, despite more than 100,000 English businesses appealing their rates since the April 2017 revaluation.
More than 50 high street retailers have demanded the government launches “a wholesale review of business taxes to create a tax regime fit for the 21st century”, in a letter to chancellor Sajid Javid.
Around 190,000 non-domestic premises in England, including shops, pubs and restaurants, were taken to court for non-payment of their business rates during the 2018/19 financial year, new research by Altus Group has found.
Revo calls for urgent business rates review Subscription
Revo, the representative body for the UK retail property sector, has published an open letter to chancellor Sajid Javid calling for an urgent review of business rates as the UK fast approaches its exit from the EU.
The Greater Birmingham Chambers of Commerce (GBCC) and property services firm Colliers International have called for new prime minister Boris Johnson to make tackling the business rates “crisis” a top priority.
Johnson or Hunt? The fashion industry's verdictSubscription
Conservative Party members will be choosing the next prime minister in the next three weeks. Drapers finds out whether Jeremy Hunt or Boris Johnson will be better for the fashion industry.
20,000 shops shut since 2010Subscription
More than 20,000 shops have disappeared from high streets across England and Wales in the past nine years, new research has found.
Business rates blamed for fall in retail jobsSubscription
New research shows 79,000 jobs were lost from the retail sector between the first quarter of 2018 and the first quarter of 2019 – a drop of 2.5% year on year.
Independents have called for a temporary business rates allowance to support smaller retailers, as the Treasury committee develops a longer-term solution to the property tax crippling the UK’s high streets.
More than 82,400 properties in England have lodged appeals against business rates since the system’s 2017 overhaul, official figures have shown.
CBI boss calls for business rates reformSubscription
The president of the Confederation of British Industry (CBI) has warned that business rates risks creating “regional inequalities”, calling for reform.