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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Jan- 2019 -21 JanuaryHigh Street
Mike Ashley among bidders eyeing HMV
According to reports, Sports Direct owner Mike Ashley is among bidders seeking to purchase HMV, which recently announced its second administration in six years. The music and film retailer officially fell into administration during the festive period, and was denied a £3.35m government tax cut before it entered administration according…
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18 JanuaryAnalysis
Fall of the high street — can retailers survive?
The UK’s high streets are under attack. From the continued rise of online shopping, which has led to a reduction in footfall, to increases in business rates and the Living Wage, Britain’s retailers are struggling. The decline of the British high street has dominated the headlines in 2018 with in…
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10 JanuaryEconomy
Worst Christmas for retail in a decade, says the BRC
The retail sector has seen its worst Christmas performance in 10 years, despite a number of businesses reporting positive trading for the period. According to the British Retail Consortium (BRC), over the festive period retail sales growth was at 0% for the first time in 28 months as “squeezed customers”…
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9 JanuaryEntertainment
HMV ‘denied’ £3.35m tax lifeline before administration
Beleaguered music and film retailer, HMV, who officially fell into administration during the festive period, was denied a £3.35m government tax cut before it entered administration new figures have revealed. HMV blamed a “tsunami” of retail challenges, including business rate levels, saying it paid £15m on sales of £277m meaning…
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4 JanuaryComment
Carnage on the shop floor
The pressure on the retail sector has been a consistent staple for investors since the end of the financial crisis, partly as a result of changing shopping habits but also down to rising costs and outdated business models. This has been no better illustrated by the way UK consumers behaved…
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Dec- 2018 -20 DecemberGovernment
MPs launch inquiry into business rates
The Treasury select committee has launched an inquiry into business rates as part of the Housing, Communities and Local Government committee’s wider inquiry into the high street. Chair of the Treasury select committee, Nicky Morgan said the two departments were expected to publish the terms of reference in the new…
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10 DecemberClothing & Shoes
Mike Ashley’s Flannels given £125k rates relief despite £65m turnover
Mike Ashley’s high end fashion chain Flannels has been handed £125,000 in business rates “help” by a local council amid fears that a former pub and nightclub it bought back in 2016 would be left derelict. Doncaster Council agreed the funding to Flannels’ over a “derelict” site at Priory Walk,…
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7 DecemberGovernment
Retailers could lose out on £496m refund as ATM ruling is appealed
In November, the Court of Appeal ruled that ATMs inside and outside of stores should not be assessed for business rates
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5 DecemberAnalysis
Why are retail spaces shrinking across England and Wales?
Across the UK, retailers are struggling to survive. This is down to several factors: years of austerity and low wage growth has meant that households have less spending power, the cost of imported goods has risen – as has the national minimum wage – and the trend of “bricks to…
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5 DecemberGovernment
Government clarifies details of new business rates relief
The Ministry of Housing, Communities and Local Government (MHCLG) has published guidance on the details of how business rates discounts first announced in this year’s Budget will be allocated. During the Budget on 29 October, chancellor Philip Hammond announced that businesses with a rateable value of under £51,000 would receive…
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