This is a trade facing website. Visit the ACTís consumer site thecyclingexperts.co.uk for information and advice on cycling and find your local independent cycle retailer.
The Association of Cycle Traders
This is a trade facing website.
Visit the ACTís consumer site at thecyclingexperts.co.uk.

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Results: 1-10 of 1747


19 Jul 2019

At the beginning of July ATG Training visited Scotland to carry out a number of Cytech technical two assessments, enabling experienced bike mechanics living and working there to gain the...

4 Jul 2019

The annual search to find Britain’s Best Small Shop, a competition managed by the Independent Retailers Confederation (IRC), begins today with a focus on consumer engagement and how...

25 Jun 2019

The plans for a new Thames walking and cycling crossing from Canary Wharf to Rotherhithe in London have been halted due to the rising costs

25 Jun 2019

Survival has been the primary focus of many bike shops, but what if you are looking to grow?

24 Jun 2019

Local Bike Shop Day celebrates independent bike shops all around the UK

24 Jun 2019

New research estimates the effect of e-bikes on miles travelled and greenhouse gas emissions

20 Jun 2019

The definitive guide to safer cycling is a four part series that offers crucial information on important cycling safety statistics as well as helpful tips and advice

12 Jun 2019

The Government recently announced the introduction of e-bikes into the Cycle to Work scheme. The addition of e-bike within the Cycle to Work scheme could help more commuters turn to greener...

12 Jun 2019

The e-bike market is forecasted to grow further across the UK competing with the car for short distances.

12 Jun 2019

The APPCG hope you can join their next meeting on the industrial case for cycling

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Changes to Wage Rates, Tax Rules and Business Rates

Posted on in Business News , Cycles News

pension scheme Certain changes have come into effect from the 1st of April and we are just reminding retailers of these important changes.

National Living and Minimum Wage Rates

The National Living Wage is applicable to all workers aged 25 or over.

Workers must be at least 16 (school leaving age) to get the National Minimum Wage.

National Living Wage and Minimum Wage rates from the 1st of April 2019:

  • Employee aged 25 and over (NLW rate): £8.21 per hour
  • Employee aged 21 and over: £7.70 an hour
  • Employee aged 18 to 20: £6.15 an hour
  • Employee under 18: £4.35 an hour
  • Apprentices: £3.90 an hour

If you need any more information about wage rates, including further details on statutory sick pay and holiday entitlement click here.

Making Tax Digital (MTD)

MTD has changed the way that retailers submit their VAT return.

Businesses now need to keep their VAT records digitally and use specific software to submit returns.

Businesses with a taxable turnover above the VAT threshold (£85,000) must:

  • Keep VAT records digitally
  • Use MTD-compatible software to submit their VAT returns

Retailers will need to keep business records digitally from the start of all accounting periods on or after the 1st of April.

Digital records should include for each supply, the time of supply (tax point), the value of the supply (net excluding VAT) and the rate of VAT charged.

Digital records will also need to include your VAT Registration Number and details of any VAT accounting schemes used.

If you are looking for guidance in submitting quarterly tax updates under MTD, click here to access the ACS' guide.

Business Rates Discount

Chancellor Philip Hammond announced that businesses with a rateable value of under £51,000 would receive a 1/3 discount on their rates bills.

Guidance published by MHCLG confirms that the 1/3 discount will be available to eligible businesses for the years 2019/20 and 2020/21. The guidance recognises the inclusion of petrol forecourts and post offices within the definition of businesses that are ‘wholly or mainly being used as shops, restaurants, cafes and drinking establishments'. However, ATMs are not included within the definitions and are subsequently not eligible for the discount.

The business rate relief is automatically allocated by Local Authorities (after any existing mandatory and discretionary reliefs) and included in your rates bill issued early in 2019. If you believe you are eligible for relief but have not received the discount please contact ACS for a template letter to send your local authority via email at steve.dowling@acs.org.uk.

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