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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Feb- 2021 -26 FebruaryNews
Pets at Home raises guidance amid strong Q4 trading
Pets at Home has once again raised its profit forecast as the group continues to see strong trading and rising demand in the pet sector. In light of its trading year-to-date, it now anticipates full-year underlying pre-tax profit, including the previously announced repayment of business rates relief of £28.9m, to…
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24 FebruaryCoronavirus
Chancellor expected to extend furlough until May
Chancellor Rishi Sunak is expected to announce a further extension to the government’s furlough scheme until May in his Budget speech next week. According to The Times, the move is expected after Boris Johnson promised not to “pull the rug out” from businesses when restrictions eventually begin to ease under…
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23 FebruaryGovernment
Gov should ‘remain flexible’ when lifting retail ban, says BRC
The British Retail Consortium (BRC) has said the government should “remain flexible” and allow non-essential retailers to reopen as soon as the data suggests it is safe to do so. The statement comes in response to Boris Johnson’s roadmap’ out of lockdown, where the PM said it is possible that…
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22 FebruaryAnalysis
The restructuring options for retailers before it’s too late for rescue
Despite a glimmer of hope that Government may extend more Covid-19 support measures, retailers shouldn’t leave their future to chance if they want to boost their prospects of surviving the pandemic. Up until recent days, it looked like retailers were facing a so-called perfect storm. A moratorium protecting retail tenants…
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22 FebruaryProperty
BPF names NewRiver CEO as chair of retail board
The British Property Federation (BPF) has appointed Allan Lockhart, CEO at real estate investment trust NewRiver REIT, as chair of its new retail board. The board was created in January to ensure central and regional governments could understand the views of the retail property sector, in turn driving the agenda…
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19 FebruaryGovernment
Sunak to delay review of business rates until autumn
Chancellor Rishi Sunak is set to reveal that he will delay a final report on the review of business rates until later this year. According to The Financial Times, the delay of the report, which was set to consider the introduction of an online sales tax, comes as the chancellor…
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18 FebruaryHigh Street
850 retail jobs lost a day so far in 2021
New research has found that 850 retail jobs have been lost every working day so far in 2021, with experts warning that this could be just the “tip of the iceberg”. Analysis from The Centre for Retail Research has revealed that administrations by large multiple retailers, those with 10 or…
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17 FebruaryCoronavirus
Scottish retailers see business rates relief extended for 12 months
Scottish retail, hospitality, leisure and aviation businesses will pay no rates throughout the next year, under new plans outlined by finance secretary Kate Forbes. The extension is part of £1.1bn consequential funding arising from UK government coronavirus spending. Forbes, who had already announced plans for a three-month extension in her…
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15 FebruaryClothing & Shoes
Burberry to repay £6m in business rates relief
Burberry has voluntarily agreed to repay around £6m in business support to the Treasury, following the business rates holiday designed to help businesses navigate through the impact of the pandemic. According to the Sunday Times, the retailer has also repaid a £300m loan from the Bank of England, in a…
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11 FebruaryEconomy
Non-food retailers see £22bn sales hit due to Covid
The British Retail Consortium (BRC) is reporting that the country’s three national lockdowns have cost ‘non-food’ stores – mainly ‘non-essential’ retail – an estimated £22bn in lost sales. The trade association said stricter restrictions in the crucial run-up to Christmas hampered retailers’ ability to generate much-needed turnover, which would have…
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