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3 Jan 2023

Millions are being encouraged to walk and cycle more this year to get fit and save money, with an additional £32.9 million of government funding to accelerate walking and cycling schemes...

3 Jan 2023

Almost 50 shops in the UK closed for good every day in 2022 - more than at any other time in the last five years – according to a new report from the Centre for Retail Research.

15 Dec 2022

Cytech training provider Activate Cycle Academy made it onto BBC television and radio this week as part of The One Show’s launch of a ‘Gift A Bike For Christmas’ campaign.

14 Dec 2022

Leicester has become the latest city to offer a free e-bikes scheme to encourage people to leave their cars at home and pedal around the city. The scheme, which is funded by the Department for...

13 Dec 2022

ACT’s Cytech delivery partner Activate Learning, of which Activate Cycle Academy is a part, is offering FREE online Microsoft accredited online courses for employers to enable their staff...

13 Dec 2022

We are starting a series of Retailer Profiles, shining a light on some of our best and most interesting independent retailers. If you would like us to consider your shop for inclusion, please...

12 Dec 2022

New research published by Cycling Scotland has shown that saving money is a key motivator for people taking up cycling. The study, which tracks changes in attitudes towards cycling in Scotland...

8 Dec 2022

Four in ten Britons dream of starting their own small business, with bookshops the most popular choice, according to new research by American Express Shop Small.

7 Dec 2022

During a tough economic climate with significant challenges for retailers, the Daily Telegraph has named 15 high streets around the country that it says, “retain a healthy selection of...

6 Dec 2022

The BBC has published comprehensive analysis of Ordnance Survey data that reveals the full extent of changes to Britain's High Streets after two years of Covid lockdowns and trading...

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Energy Bill Relief Scheme for businesses to continue to end of March 2023, Chancellor confirms

Posted on in Business News , Cycles News

The new Chancellor of the Exchequer, Jeremy Hunt, has confirmed in a statement that the Energy Bill Relief Scheme for businesses will continue to the end of March 2023 as planned.

Jeremy HuntHowever, the Chancellor has ordered a Treasury-led review into how to provide energy support to individuals and businesses from April 2023. The Chancellor stated that support should be targeted to businesses that need help most. Businesses are being urged to complete the government’s survey here.

Mr Hunt’s statement included several other announcements regarding last month’s mini-budget.

The Chancellor also announced that:

  • The basic rate of income tax, which was due to be cut to 19%, will now remain at 20%
  • The scrapping of the rise to corporation tax has been abandoned. Corporation tax will rise to 25% in April 2023
  • Reforms to IR35, off-payroll employee pay, and dividend tax reforms have been dropped
  • The introduction of VAT-free shopping for tourists visiting the UK has been scrapped
  • The freezing of alcohol duty rates has been scrapped
  • The 1.25% rise to National Insurance Contributions, to fund the Health and Social Care Levy, will be dropped as planned
  • The Annual Investment Allowance, Seed Enterprise Investment Scheme and Company Share Options Plan will go ahead as planned

The Chancellor will publish the government’s fiscal rules with an OBR forecast, and further economic measures on 31st October 2022.

In his statement, the Chancellor said:

"Any support for businesses will be targeted to those most affected and the new approach will better incentivise energy efficiency."

"The most important objective for our country right now is stability. Governments cannot eliminate volatility in markets, but they can play their part, and we will do so because instability affects the prices of things in shops, the cost of mortgages, and the values of pensions."

"There will be more difficult decisions, I'm afraid, on both tax and spending as we deliver our commitment to get debt falling as a share of the economy over the medium term."

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