All Business rates articles – Page 7
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NewsMcColl’s to hang on to rates rebate as Covid costs outweigh savings
C-store retailer McColl’s is set to keep the business rates rebate it was given by the government in March as its chief executive says Covid-related costs have since outstripped the money saved.
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OpinionRoger Wade: ‘We need to level the playing field between online and high street’
Last week brought the end of shopping restrictions as retail returned across the UK. Sadly, the second lockdown did more damage than we ever expected as high street retailers suffered a double blow of not only the pandemic, but online competition.
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NewsKingfisher agrees to return business rates relief in full
The board of home and DIY giant Kingfisher has agreed to return more than £130m in business rates relief in full, becoming the latest retailer to do so.
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Opinion‘Essential retailers may have shot sector in foot with rates relief repayments’
In the space of a few days, a wave of essential retailers has voluntarily returned the best part of £2bn in business rates relief to the government. In doing so they have won the public relations battle, but have they lost the long-term rates reform war?
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NewsLidl joins retailers returning business rates relief with £100m payback
Discounter Lidl has become the latest retailer to agree to waive the business rates relief it received at the start of the pandemic by repaying £100m to the government.
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NewsB&M and Pets at Home follow grocers and forego rates relief
Value giant B&M and specialist retailer Pets at Home have become the latest retailers to waive business rates relief after Tesco sparked a spate of such initiatives earlier this week.
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NewsAsda to repay £340m in business rates relief
Asda has become the latest in a growing list of grocers to voluntarily waive business rates relief and repay the government in full.
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NewsAldi becomes latest grocer to commit to repaying business rates relief
Discount grocery chain Aldi has said this morning it will pay back over £100m in business rates relief, becoming the fourth grocer to do so in 24 hours.
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NewsSainsbury’s and Morrisons to repay £714m business rates relief
Grocery chains Sainsbury’s and Morrisons have both followed Tesco’s lead by committing to repay a combined £714m of business rates relief.
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AnalysisAnalysis: Tesco’s rate repayment likely to trigger domino effect
Tesco’s decision to repay its business rates relief in full will almost certainly lead to a chain reaction of others following suit. But while other dominoes look set to fall, many in the industry are questioning Tesco’s true motives.
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NewsChancellor unveils new £4bn ‘levelling-up fund’ as part of spending review
The chancellor of the exchequer has unveiled plans for a £4bn “levelling-up fund” as part of his spending review today.
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AnalysisThe Big Question: Should retailers be paying big dividends during the pandemic?
Big-name retailers, most recently Sainsbury’s, have become embroiled in controversy for paying dividends while benefiting from pandemic assistance measures such as business rates relief. We ask industry experts whether retailers should be giving out dividends during the crisis
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OpinionJulian Richer: ‘Questioning Sunak’s rates decision is not selling out retail’
Following Retail Week’s recent article about retailers squabbling like “cats in a bag”, I felt the need to write after some comments I made at the recent Confederation of British Industry (CBI) conference may have been misunderstood.
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Opinion‘As lockdown bites, retailers can’t afford to squabble like cats in a bag’
As the retail industry labours under the restrictions of a second lockdown, some are adopting a beggar-thy-neighbour attitude that is in the interests of nobody.
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NewsSadiq Khan calls for business rates holiday extension
London mayor Sadiq Khan has written to housing secretary Robert Jenrick calling for an extension of the business rates holiday for retail and hospitality businesses in the capital.
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NewsBRC calls on government to slash rates by 50% to avoid April ‘cliff edge’
The British Retail Consortium (BRC) has called on chancellor Rishi Sunak to slash business rates by 50% to “better reflect falling footfall and market rates” and avoid a potential “cliff edge” in April.
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NewsSupermarket bosses push Sunak for business rates reform
Chief executives of Tesco and Morrisons are among the signatories of a letter to Rishi Sunak urging him to use business rates reform to “level up” the country.
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NewsBritish Land hails ‘encouraging’ rent collections for September
Property giant British Land has reported “encouraging” rent collections for September as tenants begin to recover from the impacts of the coronavirus pandemic.
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NewsRevo chief executive warns of £2bn retail rent blackhole
Revo’s chief executive has warned of the consequences of retailers not paying rents, saying landlords are facing a £2bn arrears blackhole that will have knock-on effects across the industry.
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NewsRevo calls on government to cap business rates at 30% as part of consultation
Revo has called on the government to cap business rates at 30% and to extend support measures beyond April next year as the first part of the reform consultation period closes.