London pubs and restaurants face ‘bombshell’ without action on business rates, Khan says February 10, 2021 London pubs, restaurants, shops and other hospitality firms have saved more than £3bn due to the business rates holiday, it was revealed today, as pressure mounted on the government to extend the break. Figures showed that 73,140 retail, leisure and hospitality businesses in the capital had benefited from the business rates holiday during the pandemic [...]
Government should rethink rates holiday as economy kicks back into life February 1, 2021 John Webber is Head of Business Rates at Colliers International News that John Lewis is under pressure to hand back millions of pounds in business rates relief received in this year’s retail rates holiday shows that the Government must re-think the way it uses the rates system to hand out support to businesses.. Last year [...]
UK PMIs: Economy slows more than expected in January January 22, 2021 The UK economy has slowed further than many expected in January, according to the leading economic index. Newly released UK PMI figures show the slowdown has been driven by a collapse in the services side of the economy. The overall PMI figure for January is 40.4, and 38.8 for services – the lowest reading for [...]
Sadiq Khan backs CBI’s calls for furlough extension January 19, 2021 The mayor of London has backed calls from the CBI for further financial support for businesses, saying current deadlines create a "financial cliff edge"
Investments climb back to pre-pandemic levels with cash reserves playing key role January 5, 2021 Despite economic pressures and a recession looming, nearly half of corporates and large SMEs expect business investment to return to pre-crisis levels by the end of this year as business gets back to normal. According to a new survey shared exclusively with City A.M. today, just 16 per cent expect to take three years or [...]
Exclusive: London firms revolt over business rates payments during lockdown June 29, 2020 Tens of thousands of London companies are believed to be mutinying against the taxman by refusing to pay business rates for the three months of the coronavirus lockdown. In light of the pandemic, the government has handed firms in the retail and tourism sectors a year-long holiday on the tax, which is applied to companies’ [...]
Exclusive: Westminster denies firms business rates relief for empty offices during lockdown June 17, 2020 Central London companies whose staff abandoned offices to work remotely during the coronavirus lockdown have been refused business rates relief, City A.M. can reveal. Westminster City Council has refused to grant the relief to office-based businesses such as accountants, law firms, and consultancies despite their workspaces remaining empty over the period. The move has sparked [...]
Reforming business rates – is Land Value Tax really a viable alternative? March 9, 2020 | City Talk The Business Rates system has long been considered by businesses as outdated and in need of reform. It imposes its tax burden whether the business is “in the red or the black”, i.e. profitable or not. Also, whilst purported to be a tax on business collected by means of property, it has a distinct bias [...]
EY adds two key appointments to its Business Rates team February 24, 2020 | City Talk As the debate around business rates continues and speculation that it may be subject to one of the Chancellor’s key announcements on Budget day increases, EY has announced the arrival of two key appointments to its Business Rates team. Alex White joins the team as Associate Partner, having been a business rates specialist for the [...]
How business rates reform can thwart the retail apocalypse October 1, 2019 When businesses like Thomas Cook fail to adapt, they are smited by new technologies with leaner business models and more efficient practices. This is Joseph Schumpeter’s creative destruction in action. Yet there is something profoundly bleak about boarded-up shops or “clearance sales” posters in the windows of once thriving businesses – particularly as the demise of [...]