UK lost 6,000 store fronts due to covid and ‘crippling’ business rates July 28, 2023 Britain has lost 6,000 storefronts in five years amid Covid and cost-of-living pressures and “crippling” business rates, according to figures. The overall vacancy rate increased to 13.9 per cent across Britain in the second quarter of this year, a 0.1 percentage point drop on the first quarter but 0.1 points up on the same period [...]
Jump in business rates could be ‘final nail in coffin’ for many pubs and shops, sector warns October 18, 2023 The chief executive for UKHospitailty said the latest inflation reading and could be a “final nail in the coffin" for many businesses
Retail groups call for business rates reform to save Britain’s high streets April 17, 2023 Retail and hospitality groups have called for urgent reform of business rates, which are contributing to shop closures and job losses. “Retail accounts for 5 per cent of the economy but pays more than one-fifth of business rates,” Helen Dickinson, British Retail Consortium (BRC) chief executive, said. “The overall industry tax take is unsustainably high [...]
Labour calls for business rates relief in Hunt’s autumn statement November 10, 2022 Labour has called for Jeremy Hunt to provide tax relief for small businesses in his autumn fiscal statement as firms stare down rates hikes in April. Labour deputy leader Angela Rayner told City A.M. today that the chancellor “must” next week axe the planned inflation-linked increase to business rates, while calling for a complete tax [...]
Small pubs at risk of closure next year without business rates relief, Fuller’s boss warns November 13, 2023 The chief executive of Fuller’s, Simon Emeny, has said that an extension on business rates relief could be the difference between some small pub businesses handing back their keys next year or remaining open. Speaking to City A.M, ahead of the autumn budget next Wednesday, the frontman for the near 200 year old pub business, urged [...]
Hunt looks at business rates ‘cliff edge’ ahead of fiscal statement November 8, 2022 Jeremy Hunt will make a tough decision on planned business rates hikes next week as business groups warn of “an existential threat” coming in April. British firms are facing a near £3bn annual hike in business rates next year if inflation stays above 10 per cent, according to Altus Group. Commercial properties will have their [...]
No cuts to corporate tax or business rates, here’s what Jeremy Hunt won’t do in the Autumn Statement November 21, 2023 You've heard plenty about what Jeremy Hunt will say tomorrow, but we can learn as much about the government's priorities in what he won't say, writes Tim Sarson.
Firms face £300m paperwork bill in proposal to help save cash through business rates March 27, 2023 Businesses across England could be saddled with bills for around £150 a year under new Government proposals intended to help them with their tax. A requirement for businesses to update the Government annually could cost a total of around £300 million a year, analysis by Gerald Eve, a real-estate advisory company, has found. The estimate [...]
Nightclubs face higher business rates next year in latest ‘hammer blow’ for the sector December 12, 2022 Press Association Nightclubs across the UK face higher property taxes next year in the latest “hammer blow” for the sector, according to new data. The new business rates rules unveiled in last month’s budget handed many high street firms lower tax bills from April next year. Pubs and high street shops are among those due to [...]
Business rates: Thousands of businesses go bust whilst waiting for rebates July 25, 2022 Thousands of business sites have foundered in while waiting for rebates over property taxes, according to new data. Research by real estate advisory firm Altus Group has showed that 3,165 business premises, including offices, factories, shops, pubs and restaurants, entered insolvency whilst they were awaiting the result of a business rates challenge. Business rates are [...]