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- 2018 -24 SeptemberHigh Street
60% of British people believe the high street will ‘eventually disappear’
New research has found that 60% of British people believe that the high street will “eventually disappear”. The research by Close Brothers Asset Finance also found that 85% of people feel the high street is in decline, with 70% adding that councils and the government are not giving “enough support”.…
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14 SeptemberDepartment Stores
John Lewis Oxford Street flagship sees business rates rise 57% in a year
John Lewis’ flagship on Oxford Street, London is expected to see its business rates tax rise from £12.68m to £19.91m up 57% compared with last year’s revaluation. According to real estate advisor, Altus Group, the Oxford Street store alone will pay £41.04m in business rates over the four years of…
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10 SeptemberHigh Street
August footfall down 1.6% despite some retail park growth
Retail footfall dropped by 1.6% in August despite seeing rare retail park growth in the East and South West of the UK. The figures are according to the British Retail Consortium (BRC) and Springboard’s footfall and vacancies monitor with August seeing a sharper decline than the 0.8% experienced in July,…
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4 SeptemberHigh Street
Retail sales growth slows during August
UK retail sales growth continued to slow during August as the summer boost comes to an end, according to figures from the BRC-KPMG Retail Sales Monitor. In August, UK retail sales increased by 0.2% on a like-for-like basis compared with the same period the previous year. On a total basis,…
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4 SeptemberClothing & Shoes
M&Co reports rocketing online sales
M&Co has reported a rapid rise in its online sales of 18.3% in the year to February which contributed to an overall sales rise of 5.4% up to £211.4m. The group saw pre-tax profit grow by £320,000 to over £3.6m, while like-for-like sales grew by 2.4% across the same period.…
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Aug- 2018 -31 AugustComment
Can VAT help save the High Street?
There are growing calls for an ‘online sales tax’ (OST) to redress the balance between physical and digital retailing but a fiscal solution may have to be more intricate – and how VAT is levied may be part of the answer. We’re all familiar with being asked in sandwich bars…
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29 AugustGovernment
Bailiffs visited more than 200 firms daily over unpaid business rates
In the first year after the new business rates revaluation came into effect, councils sent bailiffs to more than 200 commercial properties everyday for unpaid rates. An investigation by real estate advisor Altus Group revealed that during 2017/18, over 81,000 business premises liable for rates were referred to bailiffs to…
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29 AugustGovernment
SRC calls for tax breaks and scrap for online and out-of-town levy
The Scottish Retail Consortium (SRC) has called upon the government to reassure them that it will make no tax increases or freezes to business rates. Retailers also urged the government to scrap a proposed levy for online and out-of-town retailers. Responding to the calls, the Scottish government has promised the…
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13 AugustHigh Street
Retail footfall down 0.8%, shopping centres continue to suffer
Retail footfall fell by 0.8% in July when compared to the same time last year, despite the high street again seeing a slight rise. The figures from the British Retail Consortium (BRC) and Springboard show that high street footfall increased by 0.3% which was the third consecutive month of growth.…
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7 AugustHigh Street
Retail sales growth slows in July amid heatwave
Total retail sales growth slowed in July according to the latest BRC-KPMG Retail Sales Monitor, growing only 0.5% on a like-for-like basis. According to the report sales of non-food products struggled during the month as demand for seasonal purchases slowed due to the heat, which kept shoppers away from days…
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