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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Nov- 2018 -28 NovemberHigh Street
Retail sales warm in November
Retail sales growth picked up in the year to November after growth largely stalled in October, according to figures from the Confederation of British Industry (CBI). However, the group said retailers are “feeling the pinch”, with continued weakness in investment intentions, employment, and business optimism. That’s according to the latest…
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26 NovemberAdvice
Could rethinking returns help rescue the high street?
It’s a sad fact, but the traditional British high street is suffering more than ever before. With more than 24,000 shops closing their doors in the first six months of this year alone, more light needs to be thrown on retailers’ ongoing loss prevention. The overall picture painted lately shows…
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13 NovemberDepartment Stores
House of Fraser could see ‘significant’ number of further store closures
House of Fraser is set for a “significant” number of further store closures after landlords reportedly refused to agree to owner Mike Ashley’s new leasing terms. According to the Sunday Times, the Sports Direct boss met with agents at retail estate agency CBRE last week to discuss the stores to…
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13 NovemberGovernment
EU rules could ‘thwart’ Hammond’s business rates promise
Hammond’s plan to help high streets through a near £1bn, two year business rates cut, is set to be thwarted by European Union state aid rules, real estate agents Altus Group have claimed. The chancellor will slash business rates next April by discounting bills by a third for those retail…
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12 NovemberClothing & Shoes
All Saints sees profits fall by over half
Clothing retailer All Saints has seen its profits fall by over half to £10.6m in the year to February 2018. Sales rose by 8% to £327m during the same period, falling short of the £500m target owners Lion Capital had set. The investment firm bought a majority stake in All…
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9 NovemberHigh Street
Gap between retail closures and openings continue to widen, says PwC
A combination of growth in online shopping, shift to in-home leisure, heightened restructuring activity and ongoing digitisation of services has seen the half-year net reduction in stores on Britain’s high streets reach record levels, according to PwC. According to research compiled for PwC by the Local Data Company (LDC) a…
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7 NovemberComment
Digital-first retailers cannot overlook payments
Despite the retail industry being worth £366bn to the UK in 2017, the traditional high street has struggled this year. Chancellor Philip Hammond announced a financial package that includes £900m in business rates relief for nearly 500,000 small businesses, and a pot of £650m to rejuvenate high streets. But in…
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1 NovemberEconomy
600 jobs at risk as Crawshaws enters administration
Meat retailer Crawshaws has announced it has entered administration, putting 600 jobs at risk across its 42 stores. A Crawshaws spokesperson told Retail Sector that the company blamed its financial woes on “increasing competitor pressures on the high street”, namely “discount activity from the likes of Aldi and Lidl”. According…
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Oct- 2018 -29 OctoberGovernment
Autumn Budget 2018: Business rates cut for SMEs and new digital services tax
Chancellor Philip Hammond has confirmed plans to give smaller retailers a 33% cut to business rates and introduced a new digital services tax for companies with at least £500m in global revenue. The reduction in rates will take place over the next two years and is expected to save businesses…
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29 OctoberGovernment
Chancellor to propose £900m rates relief plan for smaller retailers
Chancellor Philip Hammond is expected to announce a rates relief for retail SMEs and relax town planning rules on the high street. The budget announcement will be made today (29 October) and Hammond is expected to cut business rates by 33% for 496,000 small retailers, saving £900m. It is also…
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