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.
-
Dec- 2020 -4 DecemberSupermarkets
Aldi plans to repay business rates relief
Aldi has announced its plans to repay the government any money it has received during the pandemic from the business rates relief. Back in March, all retail, hospitality and leisure businesses in England were given a business rates holiday for 12 months to help them get through the crisis. Supermarkets,…
Read More » -
3 DecemberNews
Sainsbury’s forgoes £410m rates relief
Sainsbury’s has joined rivals Tesco and Morrisons in a pledge to repay the government’s business rates relief, bringing the total number of returned costs to over £1bn. The supermarket has revealed plans to forgo approximately £410m of its business rates relief. In a statement, Sainsbury’s said it has been considering the…
Read More » -
2 DecemberNews
Tesco to repay £585m rates relief
Tesco has announced that it will repay £585m in business rates relief to the UK government and devolved administrations. The supermarket said it was “immensely grateful” for the financial and policy support provided by the government, adding that the rates relief was a “game-changer” for all retailers. It noted that…
Read More » -
Nov- 2020 -24 NovemberHigh Street
Pets at Home ‘optimistic’ as sales rise in H1
Pets at Home has announced that group revenue grew by 5.1% to £574.4m in the half-year ended 8 October 2020, noting that the underlying pet care market remains “in good health” despite the pandemic. While the group saw pre-tax profit fall by 5.1% to £39.6m in the period, down from…
Read More » -
Oct- 2020 -21 OctoberCoronavirus
UK inflation rises to 0.5% after EOTHO ends
UK inflation for the month of September increased to 0.5% after the end of the Government’s Eat Out to Help Out scheme pushed up prices, according to the latest figures from the ONS. The figure is up from 0.2% in August where prices were driven down by the discount scheme.…
Read More » -
12 OctoberSupermarkets
Tesco criticised amid £315m six-month dividend
Tesco chairman John Allan said he will defend “to the death” the board’s decision to pay dividend after receiving a tax break. The comments, reported by the Mail on Sunday, came as it emerged that Tesco declared a £315m six-month dividend on Wednesday following a board meeting. Tesco reported an…
Read More » -
6 OctoberClothing & Shoes
Ann Summers moves towards CVA
Ann Summers has suggested that it is likely to launch a CVA after the lingerie retailer failed to negotiate rental terms with landlords. The company has started talks with the British Property Federation, which would likely lead to the beginning of the insolvency process. More than half of the landlords…
Read More » -
5 OctoberClothing & Shoes
Mulberry swings to full-year loss
Mulberry has announced that group revenue fell by 10% to £149.3m in the full-year ended 28 March 2020, in light of a “challenging” UK market and the impact of the pandemic towards the end of the financial period. The group also swung to a pre-tax loss of £14.2m, down from…
Read More » -
Sep- 2020 -18 SeptemberCoronavirus
Mayor of London urges government to extend business rates holiday
The mayor of London, Sadiq Khan, and London Councils have joined together to urge the Government to extend the business rates holiday and help protect thousands of jobs in London and across the country. Businesses in the retail, hospitality, leisure and childcare sectors are currently benefiting from 100% relief from…
Read More » -
10 SeptemberSupermarkets
Morrisons profits dented by £155m Covid-19 costs
Morrisons has revealed its HY profits were dented by £155m of Covid-related costs. During the first half of 2020/21, Morrisons said “all its efforts” were fully focused on deploying its assets in the “best way” to enable its colleagues to help feed the nation during the Covid-19 crisis. For the…
Read More »
