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.
-
Aug- 2022 -1 AugustSupermarkets
Iceland boss calls for next PM to rethink business rates
Iceland has joined in the call for Tory leadership candidates to rethink “outdated” business rates as the company’s managing director, Richard Walker, reportedly urged the prime minister to promise a “root and branch” reform of the tax. His intervention, according to This is Money, follows similar calls from other UK…
Read More » -
Jul- 2022 -22 JulyEconomy
Transitional relief could cost retailers over £1bn, BRC warns
Retailers have warned that the failure to fix the “flawed” Transitional Relief system could cost the industry over £1bn between 2023-2026, and it will reportedly force shops which are most impacted by artificially inflated rates bills to close, according to the British Retail Consortium (BRC). The BRC is calling for…
Read More » -
7 JulyElectrical
Currys warns of ‘uncertain’ outlook despite profit rise
Currys has warned that its outlook for consumer spending is “uncertain”, despite reporting that pre-tax profits jumped 19% year-on-year from £156m to £186m for the year ended 30 April 2022. The financial year saw group store sales increase 24%, with 61% growth in the UK and Ireland, which is “higher…
Read More » -
Jun- 2022 -27 JuneGovernment
Asda joins retailers in rejecting online sales tax
Asda has reportedly told the government that introducing an online sales tax (OST) will harm retailers and shoppers that are already affected with rising inflation, according to The Daily Express. The supermarket chain was one of a number of retail groups to meet with Lucy Frazer, the financial secretary to…
Read More » -
May- 2022 -30 MayOnline & Digital
Asos and Curry’s among retailers to warn Sunak against OST
A group of 11 retailers, including Asos, Currys, and Gymshark, have reportedly urged the government to abandon plans for an online sales tax warning that it would “hurt, not help the high street”. According to The Telegraph, in a joint-letter to the chancellor the retailers noted that sales tax would…
Read More » -
19 MayHigh Street
M&S warns chancellor of potential ‘damage’ of online sales tax
Marks and Spencer has penned a letter to the chancellor warning of the potential damage an online sales tax would have on the high street. It comes as the government’s consultation on whether to implement such a tax closes on Friday (20 May). The government said the idea behind the…
Read More » -
16 MayClothing & Shoes
Next faces investor backlash over CEO bonus
Next plc is facing a potential backlash from the Institutional Voting Information Service (IVIS) as the retailer’s chief executive, Simon Wolfson, has received the highest pay since 2015, while benefiting from government support. According to the Guardian, the Institutional Voting Information Service (IVIS), which is part of the Investment Association…
Read More » -
16 MayHigh Street
Walgreens snaps up £4bn dividend from UK arm
Walgreens Boots Alliance has reportedly extracted more than $5.3bn (£4.3bn) of dividends from its UK holding companies. According to The Sunday Times, the Boots owner snapped up the dividends despite taking “hundreds of millions” of pounds of government support during the pandemic. Boots’ UK-based parent company, Superior Holdings, paid out…
Read More » -
4 MayHigh Street
Retail Jobs Alliance demands business rates reform
An alliance of retail companies including Tesco, Sainsbury’s, Greggs and Waterstones are forging a new coalition to urge Rishi Sunak to move ahead with reforms to Britain’s decades-old business rates regime, according to Sky News. The group, which is calling itself the Retail Jobs Alliance, has written to the chancellor…
Read More » -
Apr- 2022 -29 AprilPeople Moves
New West End Company CEO to step down
New West End Company CEO Jace Tyrrell is set to step down from his role this October, after six years at the head of the group, as he returns to his native Australia to lead its first Business Improvement District – The New Sydney Waterfront Company. According to the group,…
Read More »
