Search News

Results: 111-120 of 2828


Start again

26 Mar 2021

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.

26 Mar 2021

Cytech is on the search for UK-based bicycle mechanics, who are Australian nationals for an exciting career opportunity in Australia.

25 Mar 2021

The radio talk show invited on the Director of the Association of Cycle Traders, Jonathan Harrison, to discuss the implications that the scheme is having on both bike shops and customers

23 Mar 2021

The report found that retail crime has a huge economic impact on local shops, costing £142 million, but also a direct impact on people working in shops from violence and verbal abuse.

22 Mar 2021

The government has introduced new funding grants during the pandemic for employers taking on new apprentices, meaning that they could now receive up to £4,000 per apprentice

17 Mar 2021

The concept promotes cycling and walking while also aiming to improve quality of life

15 Mar 2021

Maybe* CEO Polly Barnfield OBE is shortlisted for the Digital Innovator of the Year award which recognises individuals who have harnessed the latest in digital and tech over the past year and...

11 Mar 2021

The third batch of 150,000 bike repair vouchers, worth £50 each, have now been released to the public.

9 Mar 2021

Cytech workshops are once again able to deliver in-person practical training from this week

8 Mar 2021

Guidance on which single use carrier bags retailers must charge for in each nation

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."

 

Useful links

If you have any other queries please contact us.