Business Rates

BRC chief calls for rates extension as vacancies rise by 13%

Helen Dickinson, chief executive of the British Retail Consortium (BRC) has urged the government to extend business rates relief beyond April as the number of retail stores lying vacant rose to 13.7% in Q4 2020.  The plea follows figures published by the consortium which show that all retail locations saw…

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Sunak looks to raise corporation tax in March budget

Chancellor Rishi Sunak is reportedly looking to raise corporation tax in the upcoming March budget to pay off the estimated £400bn borrowed by the UK throughout the pandemic. According to The Financial Times, the alleged move has sparked uproar among business owners who claim they are still struggling with the economic impact of Covid-19. However, it…

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Pets at Home raises guidance following sales boost

Pets at Home has raised its full-year guidance following a period of “accelerated momentum” in its third quarter of trading.  Based on its current year-to-date trading, as well as assuming no change to its “essential retailer” designation, it now anticipates full-year pre-tax profit to be ahead of its previous guidance,…

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Chancellor unveils £4.6bn in new lockdown grants

Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000, the chancellor has announced. The news comes after the prime minister’s announcement that businesses will be closed until at least February half-term in order to help control the spread of Covid-19. This…

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Karen Whitworth exits Pets at Home

Pets at Home has announced that Karen Whitworth, independent non-executive director and chair of the audit and risk committee, intends to stand down from her position on 20 May 2021.  According to the company, Whitworth made the decision to resign as she has “decided to accept the role of non-executive…

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Pets at Home to repay £28.9m in rates relief

Pets at Home has announced its decision to repay in full the £28.9m of business rates relief received across the business to the government.  The group said its decision reflects the company’s “guiding principle of treating all stakeholders fairly”, but is also supported by a continuing strong performance across the…

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Pets at Home sales boosted by rising pet ownership

Pets at Home has announced that group revenue grew by 5.1% to £574.4m in the half-year ended 8 October 2020, noting that the underlying pet care market remains “in good health” despite the pandemic. While the group saw pre-tax profit fall by 5.1% to £39.6m in the period, down from…

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Mayor of London urges government to extend business rates holiday

The mayor of London, Sadiq Khan, and London Councils have joined together to urge the Government to extend the business rates holiday and help protect thousands of jobs in London and across the country. Businesses in the retail, hospitality, leisure and childcare sectors are currently benefiting from 100% relief from…

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Retail jobs in sharpest fall since 2009

Retail employment fell at the fastest rate since February 2009 in the year to August, with an even sharper decline anticipated in the year to September, according to the CBI’s latest monthly Distributive Trades Survey. The survey – which featured 63 retailers among its 128 respondents – also showed a…

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Usdaw warns business rates increase could risk more jobs

Retail trade union Usdaw has expressed “major concerns” over reports that the government is considering increasing business rates for premises with a rateable value over £51,000. The news comes as reports suggest Rishi Sunak is considering increasing business rates in an effort to boost the UK economy. Instead, Usdaw is…

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