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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Oct- 2019 -16 OctoberEconomy
Retail sector could face £137m rates hike next year
September’s headline rate of inflation is set to cause more business rates increases in 2020, according to calculations from real estate advisers Altus Group. The firm said the 1.7% uprating for inflation will add an additional £536m to the overall gross business rates burden. As a result, the “embattled” retail…
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15 OctoberEconomy
BRC ‘disappointed’ with business rates relief in Queen’s speech
The British Retail Consortium has responded to the Queen’s speech, praising its approach to crime and sustainability but was “surprised and disappointed” at its approach to business rates. Commenting on the speech, which tackled issues such as immigration, crime, business rates and brexit, The BRC said: “The Government should implement…
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2 OctoberComment
5G will transform the retail experience
We’ve all heard about the rollout of the 5G mobile network and what it will mean for us as consumers, like almost instantaneous download speeds and ultra-reliable network connectivity. For businesses, the potential of 5G opens doors to revolutionary changes that will transform British industries. According to research, 5G could…
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2 OctoberHigh Street
Shop prices fall by 0.6%, fastest rate since May 2018
Shop prices in September have fallen at the fastest since May 2018, according to the latest figures from the BRC-Nielsen Shop Price Index. The index found September shop prices fell by 0.6% compared with a 0.4% decrease in August. This is the highest rate of decline since May 2018. Non-Food…
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1 OctoberAdvice
From clicks-to-bricks
2019 continues to be an extremely turbulent time for the retail sector. Barely a week goes by when we don’t hear of yet another, long-standing and well-established high street retailer beginning to crumble as it struggles to keep up with a number of online rivals. In fact, new figures released…
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1 OctoberHigh Street
FRC to investigate Thomas Cook auditor following collapse
The Financial Reporting Council (FRC) has announced it will be investigating Thomas Cook’s auditor EY, following its collapse last week which left 21,000 staff out of work and as many as 15,000 British tourists stranded abroad. The investigation will look into the audit by EY of the financial statements of…
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Sep- 2019 -23 SeptemberHigh Street
Bailiffs visit 310 premises a day over business rates, study finds
Councils across England are sending bailiffs to 310 companies a day over business rates arrears, new figures show. The investigation by the real estate adviser Altus Group revealed that, during the last financial year, for 2018/19, over 78,000 non-domestic properties from shops to restaurants to pubs to factories to offices…
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16 SeptemberShopping Centres
Council investments in shopping centres to top £1bn
Local councils are set to spend £1bn on buying shopping centres by the end of 2020, in a bid to redevelop town centres “depressed” by a wave of store closures. Research from retail property organisation Revo and property and regeneration advisors Lambert Smith Hampton (LSH) has found that local authorities…
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9 SeptemberEconomy
H&M battles with landlords over rents
Fashion retailer H&M is battling with landlords over rent reductions, which could potentially see property owners bear the cost of the rising number of returned clothes. According to a report from The Times, the retailer is pushing for “total occupational deals” where it discusses with landlords a sum linked to…
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3 SeptemberHigh Street
Retail sales ‘flatline’ as discounting and poor footfall ‘hit hard’
Retail sales “flatlined” in August according to the BRC-KPMG sales monitor, as summer discounting and “poor” footfall hitting in-store sales “particularly hard”. On a total basis, sales were found to be flat in August, against an increase of 1.3% in August 2018. This is above the 3-month average of -0.4%…
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