Tag : business rates
Business rates cut by 'just' £10m from 2021Subscription
Business rates for retailers will be cut by just 0.03% from 2021 under Conservative spending plans, research by advisory firm Altus Group has found.
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.
Brexit uncertainty ‘crippling fashion industry’Subscription
Retailers have told Drapers they are facing a “perfect storm” of cost rises, a record number of store closures, slumping sales and continued Brexit uncertainty.
Planning for Brexit is like to trying to pack for a holiday with no idea of where you’re going, the method of travel or even what factor of sunscreen you’ll need.
Shopping centre body Revo has warned that the government must reform business rates to reflect economic conditions and maintain the UK’s international attractiveness after “unjustifiable” rates rises came into effect yesterday.
BRC calls for review of business taxationSubscription
The British Retail Consortium (BRC) has called for the government to review the business rates system, which is “strangling our high streets”.
Retailers left without promised rates reliefSubscription
Many eligible retailers have been left without their business rates discounts worth up to £8,000 as local councils face problems in applying the renewed rates, just two weeks before the start of the new tax year.
Trouva to help indies tackle business ratesSubscription
Online market place for independents Trouva has partnered with retail property firm Harper Dennis Hobbs to help tackle business rates for more than 500 high street shops across the UK.
No relief for retailers in Spring Statement Subscription
Retailers have been offered no reprieve to help struggling high streets in the chancellor’s Spring Statement.
The retail industry has called for the government to “wake up and take positive action” following its inquiry into the future of the high street, Drapers can reveal.
Selfridges hit hardest by business rates hikeSubscription
The Selfridges and John Lewis stores on Oxford Street will be among the hardest hit retailers in London’s West End when the latest business rates hike takes effect in April.
Retailers sceptical about business rates inquirySubscription
Retailers have expressed concern that the new government inquiry into business rates is too siloed, and that focusing on the property tax alone will not help save the high street.
Government launches new business rates inquiry Subscription
A new inquiry into business rates has been launched by the treasury select committee to scrutinise how government policy has affected UK businesses.
150,000 high street jobs axed in 2018 Subscription
Almost 150,000 retail jobs and 20,000 shops closed this year on the UK’s high streets, new research has shown.
The treasury select committee will launch a new inquiry into the business rates system next year as retailers continue to struggle on the high street.
High-end fashion chain Flannels has been given £125,000 in business rates relief by Doncaster Council to prevent a former pub and nightclub it bought remaining empty.
Business rates bills will be cut by a third for almost half a million small retailers in the budget today.
Chancellor mulls rates cut for indiesSubscription
The chancellor is reported to be considering a £1.4bn tax cut for small businesses in next week’s Budget, in a bid to ease pressure on the high street.
Retailers demand action to help the high street Subscription
Multiples, independents and property agents have called for the government to freeze business rates and provide a clear strategy to revitalise the UK’s embattled retail sector, ahead of next week’s Budget.
Retailers hit by £186m business rates hikeSubscription
A 2.4% increase in inflation will add an additional £186.45m to retailer’s business rates bill next April.
BRC calls for business rate action in BudgetSubscription
The British Retail Consortium (BRC) has urged chancellor Philip Hammond to address the “unsustainable burden” of business rates in his autumn Budget.
Retailers welcome government hints at tax reformSubscription
Retailers have welcomed signals from the government that business rates reform and an online sales tax could be on the horizon but warned against any short-term “sop” to business.
Minister moots business rates changesSubscription
Business rates could be set to change in a bid to help struggling high street retailers, business secretary Greg Clark has told the BBC.
Bira launches business rates manifestoSubscription
The British Independent Retailers Association (Bira) has launched a business rates manifesto, in an attempt to shift the government’s approach to the tax.
Retail to bear brunt of business rates riseSubscription
Pressure is mounting on the government to reform business rates, as new research reveals the retail sector would face a £194.2m rise in its bills next April, despite the ongoing crisis on the high street.
It’s no secret that the market is tough. Brexit, rising rents and rates, digital evolution and changing consumer behaviours have created a challenging period for many fashion retailers.
BRC chief warns of 'no deal' BrexitSubscription
The chief executive of the British Retail Consortium, Helen Dickinson, has warned of the risk of a “no deal” Brexit to UK retailers.
Chancellor will review tax on digital businesses Subscription
The chancellor, Philip Hammond, has promised to review the way digital businesses are taxed, to offset the business rates pressures felt by bricks-and-mortar retailers.
BRC calls for business rates freezeSubscription
The British Retail Consortium (BRC) has called for a two-year freeze on business rates increases to provide some relief for retailers.
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.