INSURANCE NEWS

Keep informed with our business insurance and commercial insurance news, updated daily with the latest news articles affecting UK businesses today.

Business rate reduction 'would help UK retailers'

http://pictures.directnews.co.uk/liveimages/Money+Tax_873_19122884_0_0_7022015_300.jpg

A reduction in the level of rates paid by business insurance holders could help vendors across the UK, an organisation asserts.

Richard Dodds, head of media and campaigns at the British Retail Consortium, says the government's postponement of part of the tax increase means there are still large increases pending.

He says the "huge" five per cent rise which had originally been planned has not been reduced and can still be a large extra cost for retailers with business insurance.

The representative describes the plan as "ironic", stating that the community groups the government is suggesting use the space freed-up by departing companies would not normally pay this tax.

Mr Dodds asserts: "It would make much, much more sense to be supporting retailers to continue trading in those shops because they actually do pay those business rates."

Last month, the Local Government Association claimed that high streets are becoming ghost towns, with four-fifths of councils reporting an increase in the number of vacant properties.ADNFCR-873-ID-19122884-ADNFCR

Archive