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.
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Nov- 2022 -28 NovemberOnline & Digital
Amazon tax bill to rise by £29m next year
Amazon’s business rates are reportedly set to rise by around £28.75m next year, as next year’s business rates are set to heavily impact online retailers, according to new analysis from real estate advisor Altus Group. It warned that the online giant may be faced with paying £100m in extra tax…
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18 NovemberEconomy
Retail reacts: Gov has taken ‘first step to longer term reform’
The retail industry has welcomed chancellor Jeremy Hunt’s Autumn budget announcement, with the BRC saying it shows “the government has heard the concerns of retail”, despite the CBI adding it believes “businesses will think there’s more to be done on growth”. Jeremy Hunt unveiled his Autumn budget on November 17,…
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14 NovemberHigh Street
Retailers call on chancellor to freeze business rates
Retail bosses from some of the UK’s leading retailers – including Tesco, Sainsbury’s, Greggs and Iceland – have called on chancellor Jeremy Hunt to freeze business rates in the autumn statement, which is due to be announced on Thursday 17 November. Forming the Retail Jobs Alliance, the chief executives have…
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8 NovemberNews
Retail sales recovery slows in October
The recovery of retail sales slowed in October, as on a total basis, retail sales increased by 1.6%, against an increase of 1.3% in the same month last year. This is also below the three-month average of 1.7% and the 12-month average growth of 2.7%, according to the British Retail…
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Oct- 2022 -11 OctoberHigh Street
ScS sees revenues rise but warns of reduced consumer confidence
ScS has reported a record 8.6% revenue rise in its preliminary results for the 52-week period ended 30 July 2022, as it also warned that recent trading had been impacted by falling consumer confidence. ScS confirmed revenues hit £331.6m, up from £305.2m. Despite the revenue increase it added its pre-tax…
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Sep- 2022 -29 SeptemberEconomy
Food inflation rises to a ‘record’ 10.6% in September
Food inflation has grown to 10.6% in September 2022, up from 9.3% in August, which is above the three-month average rate of 9.1% and marks the highest rate of inflation in the food category on record, according to the British Retail Consortium (BRC) Nielsen IQ index. Fresh food inflation also…
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13 SeptemberAnalysis
Retailers’ demands of the new PM
Liz Truss is fresh in her new role as prime minister with enough enthusiasm to tweet, “it’s time to deliver for the people of the United Kingdom”, but while the new Tory leader was yet to be decided, business owners were left with fears that their upcoming winter troubles would…
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6 SeptemberGovernment
Retailers call for strong leadership and high street support from new PM
The retail industry has urged Liz Truss to work alongside the sector and provide “strong leadership” amid the deepening cost-of-living crisis, as she succeeds the role of prime minister today (6 September). The British Retail Consortium (BRC) said that while the retail industry is ready to work with the new…
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5 SeptemberSupermarkets
Iceland boss halts store openings amid cost-of-living crisis
Iceland has reportedly contacted No 10 directly with a plea to prepare an “immediate and radical” cost-of-living package, according to The Guardian, as the retailer has been forced to stall the openings of new stores in light of the rise in energy costs. The news comes as the proportion of…
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2 SeptemberGovernment
Zahawi draws up multi-billion pound tax cut package for businesses
Chancellor Nadhim Zahawi has reportedly drawn up plans for a multi-billion pound tax cut package to help businesses amid rising energy costs. According to The Times, the chancellor said the government could “learn a lesson” from the pandemic by introducing targeted reductions in VAT and business rates to help both…
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