Editorial: From fireworks to business rates, it’s time to move forward October 15, 2021 On the face of it, whether or not a fabulous yellow roman candle explodes like a spider across the stars for London’s New Year’s Eve celebrations is not the world’s most pressing issue. But in its own luminous way, the decision by the Mayor to cancel the capital’s midnight show for the second time in [...]
Business rates are an outdated tax which threaten to bury our high streets and shops December 3, 2021 Businesses have been through hell and back over the last two years. From on-off lockdowns, to a botched trade deal with the EU which failed almost every sector of our economy, the business community is suffering. With the Omicron variant creating a new cloud of uncertainty that is hanging over our economy, businesses are facing [...]
Early Easter boosts retail as Brits splash out on food and homeware before summer April 9, 2024 Retail leaders also issued warnings about impending costs such as the rise in minimum wage and business rate hikes, urging the government and Labour to take more action ahead of the General Election.
Rishi Sunak is risking his Conservative credentials if he ignores business rates October 25, 2021 For anyone who watches economic policy, reforming business rates seems rather like changing the House of Lords: everyone agrees it’s absolutely vital, the system needs to be modernised to enhance our productivity, but no one away from the think-tank fringes actually wants to get involved. The chancellor, Rishi Sunak, promised in March 2020 to review [...]
High street faces £1bn business rates increase next year October 20, 2021 Business rates are anticipated to rise £1bn in England next year, unwelcome news for high street firms attempting to recover from the pandemic. September’s Consumer Prices Index (CPI) signals the amount business rates will leap next April, according to analysis from the Altus Group, the country’s largest rating advisory body. The CPI measure determines business [...]
West End bemoans business rates delays as reform heads for the long grass October 15, 2021 Central London bosses last night said another delay to business rates reform would be a “further blow” for beleaguered bars and restaurants. Chancellor Rishi Sunak has reportedly delayed a fundamental review of the levy, further rubbing salt in the wounds of West End businesses teetering on the brink after several lockdowns and fledgling return of [...]
Budget: Sunak unveils high spending and business rates cutting post-Covid Budget October 27, 2021 Rishi Sunak has increased day-to-day departmental spending by £150bn in today’s Budget, in what has been billed as the largest increase in the last century, and slashed business rates. Sunak said the £150bn boost would see every government department’s budget increase, while the tax cuts will see business rates slashed by £7bn. The chancellor also [...]
Budget 2021: Hospitality and retail to get 50 per cent discount on business rates October 27, 2021 Chancellor Rishi Sunak has announced a one-year 50 per cent business rates discount for retail, hospitality and leisure sectors. Any eligible business in these sectors can claim a discount of up to 50 per cent up to a maximum of £110,000 – a business tax cut worth almost £1.7bn. Under reforms, system property valuations would [...]
Dunelm boss pay quadruples despite refusal to repay business rates holiday savings October 14, 2021 Even though homewares chain Dunelm continuing to insist it should not repay savings made from the business rates holiday, the company revealed today its boss’ pay package has more than quadrupled to over £4m. The retailer has repeatedly claimed it was right to enjoy the £22m in tax savings, as its stores were forced to [...]
London titans fear business rates relief cap will leave them with ‘same old headache’ October 28, 2021 Central London businesses and landlords have been left disappointed after a cap on a new business rates discount. At the dispatch box on Wednesday, Chancellor Rishi Sunak announced a one-year discount of 50 per cent for businesses in the hospitality, retail and leisure sectors. Eligible businesses will be able to claim a discount on their [...]