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23 Jun 2022

The first ever National Cycling Show took place at the NEC, Birmingham over the weekend, with over 100 brands exhibiting including...

23 Jun 2022

With this summer and for Independents Day, especially after the last few years, it is crucial that businesses can make the most of the increased footfall of physical shoppers.

23 Jun 2022

Retail Finance Training (RFT) is an online learning course delivering an informed insight into Retail finance that can be completed anywhere, in your own time.

23 Jun 2022

Every month Maybe* gives one of our clients £500 to spend on social media advertising. To enter all you need to do is watch the Maybe* training videos or attend their webinars.

20 Jun 2022

The strategy outlines how the government will work with trade unions and businesses to regenerate retail and build a sustainable Wales.

16 Jun 2022

At the show Cytech will be delivering bike maintenance sessions on the Cycling 101 Stage with their training provider, Spokes People (formerly PJCS), as well as offering The Bike Clinic on stand...

16 Jun 2022

The ACT would like to make it clear at present we are not working with any card processing provider, so please ignore any that claim to be working with the ACT. In other...

15 Jun 2022

It is important that retailers read the document and familiarise themselves with industry standards to ensure they are creating a safe, informed space for consumers to shop and obtain credit.

9 Jun 2022

A campaign that independent retailers across sectors and throughout the country can use to promote their own businesses online and in their own communities.

9 Jun 2022

Richardsons Cycles are asking for the public’s help to cycle the distance from Scarborough to Kyiv, a whopping 1320 miles! All money raised will be going to the DEC’s Ukraine...

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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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