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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Jun- 2019 -17 JuneEconomy
20,000 shops gone from high street since 2010
Since 2010 more than 20,000 shops have “disappeared” from high streets and the communities that they once served, according to the real estate advisor, Altus Group. Analysis of official government data by Altus Group revealed that between 2010 and 2019, 20,143 shops in England and Wales – liable for business…
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13 JuneGovernment
Businesses rates to better reflect property value under new law
Business rates payers in England will have bills that more accurately reflect current property values under new legislation introduced by ministers yesterday (12 June 2019). Property revaluations will increase to every three years, from the current five years, and the next revaluation will be brought forward a year from 2022…
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4 JuneHigh Street
Retail sales in May see ‘biggest decline on record’
Sales decreased by 2.7% in May on a total basis, excluding Easter distortions, making it the “worst decline” since records began in January 1995, according to the latest BRC-KPMG sales monitor. However, the BRC said this was against an increase of 4.1% in May 2018, itself a four year record.…
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May- 2019 -30 MayEconomy
Shop price inflation pushed up by non-food price rises
Shop price inflation increased by 0.8% year-on-year in May, with non-food inflation also increasing by 0.2%, according to the latest figures from the BRC and Nielsen. The BRC said the growth in May was the second highest inflation rate seen in the last six years, though it remains “well below”…
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13 MayDepartment Stores
Debenhams CVA could cost local authorities £8.5m in business rates
Colliers International has estimated that Debenhams’ CVA could affect up to 59 local authorities, who could lose out on £8.5m of the £17.3m rates bills the department store retailer should have been paying on properties. As part of its CVA proposals, Debenhams had categorised its properties into five groupings and…
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13 MayEconomy
Shop vacancy rate rises to highest level in four years
The national town centre vacancy rate rose to 10.2% empty outlets, according to data from the BRC-Springboard Footfall and Vacancies Monitor. This is an increase on the previous quarter’s 9.9% rise and the highest vacancy rate seen since April 2015. In the four weeks from 31 March to 27 April,…
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8 MayEconomy
Retail sales ‘below expectation’ in April
Retail sales fell below expectations in April, despite a total sales increase of 4.1% against the decrease of 3.1% the previous year, according to the latest BRC-KPMG Retail Sales Monitor. This was due to figures being “distorted” by the timing of the run-up to Easter, which was in April this…
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7 MayDepartment Stores
Debenhams to ask for 50% cut in business rates bills
Embattled department store Debenhams has reportedly planning to ask 30 local authorities to accept a 50% reduction in its business rates bill, as part of its proposed CVA. According to the Sunday Times, the department store’s creditors are set to vote on the proposal on Thursday (9 May). Small landlords…
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Apr- 2019 -18 AprilEconomy
UK retail sector bounces back in March
In the three months to March 2019, the quantity bought in retail sales increased by 1.6% compared with the previous quarter in 2018, according to new figures from the ONS. The sales increase has been attributed to “sustained growth” throughout the first three months of the year, and all store…
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17 AprilEconomy
Shopping centre landlords offer free space to retailers
Revo, the organisation that represents the retail community, has launched a new competition to give budding retail entrepreneurs free space in shopping centres and help with marketing. The organisation driving retail placemaking across Britain and Ireland has launched a major new campaign to find the next generation of retail talent…
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