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23 Sep 2021

HM Treasury has published a progress update on its Plan for Jobs as well as a record £650 billion infrastructure investment

22 Sep 2021

The report focuses on what the Government should consider including in their upcoming second Cycling and Walking Investment Strategy (CWIS) to harness the wider positive work already being done...

21 Sep 2021

Selling electric scooters without clear warnings is breaking the law, according to minister

17 Sep 2021

All ACT members are invited to join in on the APPGCW inquiry report launch. Please contact the ACT if you would like to join in and we...

16 Sep 2021

There's so much to be learned from the success (or lessons) of others, particularly when it come to the ever-moving landscape of social media. So, every week Maybe* dig through all the data to...

15 Sep 2021

Read which lucky bike shops and customers were chosen to receive Local Bike Shop Day prizes

14 Sep 2021

Green Streetis a guide to helping smaller retailers & hospitality businesses work together to slash their carbon footprint and become more sustainable as quickly as possible.

14 Sep 2021

From 1st April 2022, employer NICs will increase by 1.25 percentage points. Employee NICs will also increase by 1.25 percentage points, including for workers above state pension age

13 Sep 2021

Local Bike Shop Day 2021, administered by the Association of Cycle Traders (ACT), was supported by a record number of cycling organisations and bike shops

9 Sep 2021

Join tax compliance company Avalara for a webinar as they cover IOSS & selling into the EU, on Thursday 30th September at 11am.

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Business rates appeals denied amid new 1.5bn relief package

Posted on in Business News , Cycles News , Political News

The government has said it will legislate to "rule out" business rates appeals related to the Covid-19 pandemic, as it unveiled a new £1.5 billion relief package.

Tax and property experts have said the legal change on appeals would be a "catastrophic blow" for many businesses impacted by the commercial property tax.

Retail, hospitality and leisure have benefitted from a rates "holiday", which was announced at the start of the crisis. In England, it will continue until the end of June, with discounts in place until next year. But many supply chain firms and commercial property owners have been ineligible for much of this support. In Wales and Scotland, the business rates holiday was extended for another 12 months.

On Thursday, the Treasury revealed that it was making another £1.5 billion available in business rates relief for companies unable to receive current support.

It said the money would be distributed to sectors which have "suffered most economically" outside the current rates holiday.

It is understood this would particularly benefit commercial property firms and supply chain businesses that are currently ineligible for the support.

The Treasury said many firms unable to receive rates relief have appealed against their business rates bills, arguing that they have been impacted by a "material change of circumstance" due to the pandemic.

However, the government said it would now legislate to "rule out" Covid-19 related appeals and direct these companies towards the £1.5 billion pot.

Robert Hayton, UK president of property tax at the real estate adviser Altus Group, criticised the move.

"This will be a catastrophic blow for businesses who have spent the last year lawfully pursuing business rate adjustments only to have their statutory legal right ripped from them to allow the government to roll out a wholly inadequate scheme which won't deliver enough business rates support and threatens the post-pandemic recovery," he said.

Data from the HMRC's valuation office agency showed that 303,260 properties, including offices, pubs and retailers, lodged appeals in 2020, representing a 321 per cent increase on 2019.

The government said that allowing rates appeals on a "material change in circumstances" could have led to "significant amounts of taxpayer support going to businesses who have been able to operate normally throughout the pandemic" and would disproportionately benefit London.

"Our priority throughout this crisis has been to protect jobs and livelihoods," Chancellor Rishi Sunak said.

"Providing this extra support will get cash to businesses who need it most, quickly and fairly.

"By providing more targeted support than the business rates appeals system, our approach will help protect and support jobs in businesses across the country, providing a further boost as we reopen the economy, emerge from this crisis, and build back better."

 

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