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19 Jun 2023

Scientists and researchers have compelling data, showing ultra-processed food could be responsible for several health conditions – a recent piece in Speciality Food Magazine set out to...

19 Jun 2023

Retailers will be able to drive customer spend, digital media use, push new product development and increase sales and distribution, claims PayPoint, following the launch of a new digital...

19 Jun 2023

Just 42% of people in the UK rate their local high street as good or very good, according to the latest Legal & General Rebuilding Britain Index.

19 Jun 2023

A stellar line-up of authors have been taking part in this week’s Independent Bookshop Week 2023 with the likes of Ann Cleeves, AJ Pearce, Danielle Brown, poet laureate Simon Armitage and...

16 Jun 2023

Giant UK have partnered with Activate Cycle Academy and the Association of Cycle Traders (ACT) to provide a Cytech Technical e-Bike qualification

8 Jun 2023

Bira, the British Independent Retailers Association, has expressed its concern and frustration after it was revealed that Amazon UK Services had, for the second consecutive year, paid zero...

7 Jun 2023

The three bank holiday weekends in May failed to boost UK retail sales, with growth slowing in May according to new industry data.

7 Jun 2023

New data shows that the public is craving a change to their local high street in order to continue visiting it, with nearly half of those surveyed believing that high streets are no longer...

5 Jun 2023

The government has published guidance to help businesses prepare for the ban on single-use plastics which is due to come into force in October.

1 Jun 2023

A report published by financial institution Claro Money’s wellbeing division on the effects of money worries for retail workers found that 73% of retail workers feel negatively about their...

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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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