Business Rates
This coverage examines business rates policy and its implications for the UK retail sector. Reporting focuses on government decisions, reforms, rate relief measures, and their impact on store operations, profitability, and investment decisions. Tailored for retail executives and managers, it provides analysis to help navigate costs, advocate for change, and plan effectively in response to fiscal pressures.
-
Oct- 2024 -8 OctoberEconomy
September retail sales see biggest boost in half a year
UK Total retail sales increased by 2% year on year in September marking the largest increase in over six months, according to the latest BRC-KPMG Retail Sales Monitor. Food sales increased 3.1% year-on-year over the three months to September, against a growth of 7.4% in September 2023. This is below…
Read More » -
4 OctoberNews
UK footfall jumps 3.3% in September
UK footfall has risen by 3.3% in September, up from 0.4% in August, as shopper numbers return to increase for the first time in over a year. According to the BRC, retail parks enjoyed the biggest boost with a 7.3% increase during the month, up from 2.6% in August. Shopping…
Read More » -
Sep- 2024 -27 SeptemberNews
Amazon UK pays corporation tax for first time since 2020
Amazon’s main UK division has paid corporation tax for the first time since 2020 following the end of a ‘super-deduction’ tax break, The Guardian has reported. The group’s UK services paid £18.7m in “current tax” last year on sales of £27bn. This marks a shift from the £7.8m tax credit…
Read More » -
18 SeptemberEconomy
Inflation holds steady at 2.2% in August
The rate of inflation remained steady at 2.2% in August, unchanged since July, yet is still above the Bank of England’s target of 2%.Although food and energy prices continued to fall over the month, this was in part offset by transport, where prices rose by 1.2% in the month. This…
Read More » -
13 SeptemberNews
Today’s news in brief-13/9/24
Logistics UK warned that new EU fingerprint and facial recognition checks for non-EU passengers at Dover could cause delays, impacting fresh food deliveries crucial for Christmas. The Entry/Exit System (EES) implementation from November 10, 2024, threatens significant disruptions, prompting calls for public awareness campaigns. The British Retail Consortium (BRC) asserted…
Read More » -
13 SeptemberHigh Street
Retail industry is overtaxed, says BRC
The British Retail Consortium (BRC) has claimed that the retail industry is overtaxed compared with other sectors of the economy after new research found retail pays 7.4% of all business taxes (£33bn), a share 1.5 times greater than its share of the overall economy (5% GDP). The BRC said this…
Read More » -
6 SeptemberNews
Today’s news in brief-6/9/24
Burberry, a fixture in the FTSE 100 for the past 15 years, has been demoted to the FTSE 250 following a steep decline in its share price, which has plummeted by around 50% over the last six months. The luxury fashion house has been hit hard by a slowdown in…
Read More » -
6 SeptemberGovernment
CBI boss calls for gov to fix ‘antiquated’ rates system
CBI CEO Rain Newton-Smith has called on the government to fix the “antiquated” business rates rules in England to boost investment and grow the economy. Ahead of the Autumn Budget, the CBI convened firms from 12 sectors, including retail and manufacturing, to develop cross-economy solutions for a competitive and transparent…
Read More » -
3 SeptemberEconomy
August sales jump 1% YOY despite weak back to school performance
UK Total retail sales increased by 1.0% year on year in August, against a growth of 4.1% in August 2023, despite back to school sales performing weaker than expected, according to the latest BRC-KPMG Retail Sales Monitor. The performance was above the three-month average growth of 0.4% and below the…
Read More » -
Aug- 2024 -12 AugustNews
Today’s news in brief-12/8/24
Asda’s chair, Lord Rose, expressed embarrassment over the supermarket’s recent performance, citing a 5.3% drop in like-for-like sales and a market share decline from 14.8% to 12.7%. He suggested it might be time for co-owner Mohsin Issa to reduce involvement. Asda has initiated a £50m store upgrade and £30m investment…
Read More »
