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30 Mar 2021

The DfT has just informed the ACT that the fourth batch of 150,000 bike repair vouchers, worth £50 each, have now been released to the public.

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

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Firms call for Government to reform business rates or risk a high street collapse

Posted on in Business News , Cycles News , Political News

The leaders of household names including Tesco, B&Q and Waterstones have warned the chancellor that the business rates burden on shops is putting thousands of high street jobs at risk, and called for online retailers to pay their "fair share" of tax.

In a letter to Rishi Sunak before next month's budget, the chief executives of 18 retail and property organisations, representing more than a million employees and tens of thousands of shops, say failing to overhaul the commercial equivalent of council tax will hamper the ability of high streets and town centres to recover from the pandemic.

The letter, which is also signed by the bosses of Asda and Morrisons as well as members of the Independent Retailers Confederation (IRC), says the current system is "not sustainable in the long term and without reform, shops at the heart of communities will be at risk".

The letter makes the following specific recommendations:

  1. Reducing the business rates multiplier: The multiplier has risen from 35% in 1990 to more than 50% today. It should be significantly reduced, focusing on a level closer to the original rate of around 35% of the market rent. This would make the UK more competitive and show the Government is backing British shops.
  2. Level the playing field on tax: Currently online retailers pay a lower proportion of tax per sale than bricks and mortar retailers. We urge the Government to rebalance the tax base to ensure online and bricks and mortar retailers pay a similar proportion of tax and we welcome the consideration of viable options in the Government's ‘fundamental' review.

Ther letter urges Sunak "to use the upcoming budget to commit to fundamental reform of business rates focused on reducing the burden on retailers and levelling the playing field between bricks and mortar and online businesses". 

The letter comes as the Treasury explores options for an online sales tax in response to the explosion in internet shopping since the pandemic to help stem the collapse of the high street.

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