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7 May 2021

Based at Activate Learning's Bracknell & Wokingham College campus this brand new workshop is the latest addition to their expanding number of Cytech training workshops across the country.

7 May 2021

Pennine Cycles, shortlisted last year for two awards in the Best Small Shops competition, have now been nominated in the BikeBiz Awards

6 May 2021

Maybe* take examples from successful businesses that used social media to flourish despite the pandemic

5 May 2021

The Government has agreed an amendment to the Financial Services Bill which will enable shops to offer cashback to customers without making a purchase.

29 Apr 2021

Armed with research data from Maybe*, a panel of retail industry expertshave collaborated to create this whitepaper with one goal - to help businesses thrive in this new era of uncertainty.

28 Apr 2021

The Bank of England has released free training materials for retailers with the aim of refreshing awareness of how to check banknotes.

28 Apr 2021

ACT members can receive excellent benefits with NearSt, a powerful platform that encouragers more shoppers through the doors of specialist cycle shops

27 Apr 2021

Defra has just confirmed that the amendments to the Single Use Carrier Bags Charges (England) Order 2015 will not be coming into force on 30th April 2021 as originally...

26 Apr 2021

A summary of what each party's manifesto will mean for small shops ahead of the Welsh Parliamentary elections on 6th May.

23 Apr 2021

A summary of what each party's manifesto will mean for small shops ahead of the Scottish Parliamentary elections on 6th May.

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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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