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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Sep- 2019 -2 SeptemberGovernment
Retail business rates could rise by £169m over the next 12 months
Retailers could see a £169m increase in business rates next year, prompting renewed calls for the government to overhaul the system. Calculations by real estate advisors Altus Group found gross business rates bills (including non-retail) for the financial year 2020/21 would increase by £662.15m in England, if the headline rate…
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Aug- 2019 -13 AugustAdvice
Adapting to the new age of retail
Following the recent closures of large-scale retail chains such as William Hill, the question of the high street’s future is once again on everyone’s mind. While undoubtedly the face of the high street is changing, closures don’t represent the high street’s swan song, merely its growing pains. Outlets which have…
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13 AugustHigh Street
Over 50 retailers sign letter demanding business rates fix
Over fifty major retailers have come together to demand the government takes action to fix the “broken” business rates system. In a letter to the new chancellor, Sajid Javid, retailers have called on the government to put business rates “at the heart” of the promised new economic package. The letter,…
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6 AugustHigh Street
July consumer spending hits record low
UK consumer spending in the month of July fell to a record low despite the good weather, according to the latest statistics from the British Retail Consortium (BRC) and KPMG. On a total basis, sales increased by 0.3% in July, against an increase of 1.6% the previous year, it is…
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Jul- 2019 -25 JulyPeople Moves
Retail employment falls 2.3%, 14th consecutive quarter of decline
Retail employment has fallen by 2.3% during the three-month period ending 30 June, marking the 14th consecutive month of decline. According to the figures from the BRC, the decline is equivalent to around 72,000 more jobs lost than compared to the same period last year. Full-time employment also saw a…
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16 JulyHigh Street
Around 16% of UK shops lie empty according to FOI
Corporate restructuring advisor Duff and Phelps has revealed that close to 16% of all UK retail and shop outlets remain empty, according to a Freedom of Information (FOI) request made to local councils. Its research found that over 50,000 units in 418 councils remain closed, an average of 121 empty…
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10 JulyAdvice
The impact of Brexit on the UK retail market
It’s no secret that the UK retail sector is facing a serious crisis, with the demise of several vendors including HMV, Toys R Us and LK Bennett a stark example of companies which have failed to stay afloat. But where did it all begin and what actions can retailers take…
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1 JulyAdvice
Retail doesn’t need a level playing field, it needs nurtured players
Barely a day goes by without another news story about a high street name in trouble. There’s no doubt that the Great British High Street is undergoing a tumultuous period. But there’s still a lot of debate about what precisely underlying cause of these issues are. Much has been made…
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1 JulyEconomy
Retailers see fastest drop in sales since financial crisis, says CBI
Retail sales volumes fell at its fastest pace since March 2009 in the year to June, according to new research from business organisation firm CBI. The survey of 88 firms found that 58% of retailers said sales were down compared with June last year. Within the retail sector, grocers were…
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Jun- 2019 -21 JuneAnalysis
Why ‘out of town’ retailers still matter
In May, we saw the Treasury committee report recommend that banks maintain a physical presence around the country and Dave Lewis, Tesco CEO, discussing the contentious issue of business rates and how the current system doesn’t support growth, to which I completely agree. Pressure is bearing down on the high…
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