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8 Mar 2024

Daniel Blackham, editor of industry magazine BikeBiz, has been writing about his experience of completing the Cytech technical one qualification at training provider Spokes People in Milton...

6 Mar 2024

Cytech partner Activate Cycle Academy, the largest and most recognised training provider of bike maintenance and technical training courses to the UK’s cycle industry, recently welcomed a...

6 Mar 2024

The Greeting Card Association has reacted to a BBC Panorama programme lifting the lid on Royal Mail management prioritising parcel delivery over letters, which it says are in contradiction of...

4 Mar 2024

Pop star Kate Bush has been announced as an ambassador for this year's Record Store Day, on 20 April.

4 Mar 2024

The British Book Awards has announced its shortlist for Independent Bookshop of the Year. 

4 Mar 2024

The ACT is happy to confirm the date for Local Bike Shop Day 2024 as Saturday 4 May, the weekend of the early May Bank Holiday.

4 Mar 2024

Research by global fintech company SumUp has revealed the best cities in the UK for independent businesses.

21 Feb 2024

The latest quarterly State of the Industry survey from the National Hair & Beauty Federation (NHBF) shows that the recovery of the sector was slow and steady through 2023 and into January...

21 Feb 2024

The UK has voted for its favourite pun-based shop name, and 'Sew It Seams' - a clothing alteration store in Belfast - has been awarded the top spot. 

21 Feb 2024

Businesses in the Devon town of Ottery St Mary have praised their local council for initiatives designed to help support them and boost trade.

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Retailers could face a further £280m on business rates bills next year

Posted on in Business News , Cycles News , Creative News, Outdoor News

Retailers across the UK could face an extra business rates hike of £280 million next year, which could mean "fewer shops and fewer jobs".

Commercial property tax is poised for another revaluation in April and will be calculated using September's retail price index (RPI), which has risen due to the fall in the pound's value and rising inflation.

calculatorAccording to the British Retail Consortium (BRC), the RPI is set to rise four per cent this month, driving a potential £280 million rise in business rates for retailers.

This comes after news that one small business owner a week is sent to prison for failing to make business rates payments on time, as the industry struggles to keep up with last year's rates rise. This is likely to be exacerbated in April.

According to new data compiled by CVS for the Press Association, 54 business owners were sent to prison for up to 90 days for non-payment of business rates in the year to the end of March.

Whereas limited companies face liquidation if they are unable to pay the controversial new rates, sole traders and self-employed businesses face a "disproportionate financial and legal burden" and prison for not keeping up with payments.

Businesses across the UK have been challenging the rates revaluations, which continue to cripple thousands.
The government pledged £300 million to a relief fund to help those businesses most affected, but just two out of nearly 100 local councils have paid out so far amid increasing delays and lack of direction from the government.

For the hundreds of companies challenging their revaluated business rates bill, bills must still be paid while a decision is made on their appeal.

If you think your business rates are too high, check with our partner Rates Recovery.

Business owners can simply upload their rates bill to RatesRecovery's website to find out whether you could be due a rebate and future savings.

 

 

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