"Both the UK and Welsh governments have recognised retailers pay a disproportionate amount in business rates and are introducing permanent rates reductions for shops from April 2026. The Chancellor of the Exchequer is expected to confirm in her UK Budget this week the size of reduction in the business rate that will apply to retailers in England in the coming financial year. The Welsh Government has also announced it will reduce rates for shops from April."
"Scotland's shopkeepers contribute about a fifth of all business rates. The SRC is warning that a less competitive business rates regime here would be bad for retailers but also for Scotland's retail destinations. Despite some welcome decisions in the last Scottish Budget, including a freeze in the Basic Property Rate and ditching of the mooted surtax on grocery stores, the business rate remains onerous and at a 26-year high."
"Meanwhile, Scotland continues to levy a higher business rate on medium-sized and larger premises than is the case in England. Recent data shows 2,400 Scottish stores stump up £9 million a year more in rates than counterparts down south, a whopping £93 million over the past decade for shops alone. In the last three years smaller Scottish stores have missed out on rates relief available to counterparts in Wales and England, despite Barnett Consequentials being forthcoming."
England and Wales will introduce permanent business rates reductions for shops from April 2026, with the UK Chancellor expected to confirm the reduction size in the upcoming Budget. Scotland's retailers face an onerous business rate at a 26-year high and contribute about a fifth of all business rates. Scotland charges higher rates on medium and larger premises, leaving 2,400 stores paying £9 million more annually than English counterparts, £93 million over a decade. Smaller Scottish stores have missed recent relief available in England and Wales. The Scottish Retail Consortium calls for equivalent permanent reductions to protect retail destinations.
Read at London Business News | Londonlovesbusiness.com
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