{$inpagemarkup}

Search News

Results: 661-670 of 703


Government Responds to Business Rates Inquiry

3 Mar 2020

IRC member, ACS,has called on the Government to get on with its fundamental review of business rates after broadly dismissing recommendations made by the Treasury Select Committee
Read more…

Indie Retail Calendar 2020: March

2 Mar 2020

The Indie Retail eCommerce calendar for the month ahead to plan your sales & marketing strategies
Read more…

Get involved with National Stationery Week

28 Feb 2020

Fill your pencil cases, sharpen your pencils, grab a clean sheet of paper and get ready to celebrate - National Stationery Week is coming
Read more…

Coronavirus guidance for employers and businesses

27 Feb 2020

The Government has issued guidance to assist employers and businesses provide advice to staff on the Coronavirus and how to preventthe spread of all respiratory infections
Read more…

Frankie Bridge helps launch search to find Britain's Best Small Shop of 2020

26 Feb 2020

Singer and now author Frankie Bridge has helped launch the search to find the UK's Best Small Shop of 2020
Read more…

Environment Bill Returns to Parliament

25 Feb 2020

The Environment Bill includes commitments on tackling plastic pollution and details how they plan on meeting the net-zero target by 2050
Read more…

Government Announces Ban on the Sale of Wood and Solid Fuels from 2021

25 Feb 2020

The Department for Environment, Food and Rural Affairs have announced plans to introduce restrictions on the sale of wood and a ban on coal from next year
Read more…

Polymer £20 Bank Notes have entered circulation

25 Feb 2020

From 20th February the new polymer £20 will enter circulation and begin appearing in ATMs across the UK
Read more…

Some Local Bike Shop Day ideas to get you going

24 Feb 2020

Ideas that can help you to get your customers and the wider community involved in Local Bike Shop Day

Read more…

Free trade entry for The London Bike Show through the ACT

17 Feb 2020

Register for your free trade entry to London Bike Show now Read more…

Government Responds to Business Rates Inquiry

Posted on in Business News, Cycles News, Political News

Independent Retailers Confederation (IRC) member, ACS, has called on the Government to get on with its fundamental review of business rates after broadly dismissing recommendations made by the Treasury Select Committee.

The Government's official response to the Treasury Select Committee's inquiry on business rates, published on Friday 28th February, defends the operation of the current business rates system and commits to the Committee's concerns being dealt with as part of an upcoming fundamental review.

Issues raised by the Treasury Select Committee as part of their inquiry include:

  • The current approach to business rates acts as an immediate significant disincentive to investment
  • The Government should look at where case law currently stands on what assets are included in rateable values and should consider whether legislation is required to ensure the categories are fit for the modern economy
  • It is unacceptable that there are still appeals outstanding from the 2010 listing, years after the appeals were first raised

In its response, the Government states that it is ‘committed to delivering a tax regime that makes the UK an attractive destination to set up and grow a business'. The response also states that ‘options for reform should be undertaken in a considered, evidence-based manner - considering significant changes to the business rates system as part of conducting a fundamental review.'

ACS chief executive James Lowman said: "The Treasury Select Committee inquiry raised a lot of valid points about business rates not being fit for purpose, so if the Government is going to defer to the long awaited fundamental review then that needs to get started as soon as possible. While we wait for this fundamental review, appeals still aren't being dealt with, retailers are putting off investment plans, some businesses are paying business rates bills that are flagrantly unfair, and consumers are seeing their high streets suffer."

Ahead of the Budget on March 11th, ACS has called for the Chancellor to give a much needed boost to businesses by:

  • Ensuring that investment in improving a business doesn't come with the threat of increased rates bills as a result
  • Removing ‘through the wall' ATMs from the rating list altogether
  • Reviewing sector schemes resulting in disproportionate rates bills, notably for petrol forecourts
  • Publishing the terms of reference for the business rates review, to reduce the burden of business rates on business

The full Government response to the Committee's inquiry is available here.

Useful links

If you have any other queries please contact us.