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Keeping Britain's Independent Retail Alive

17 Jul 2019

As indepedent businesses are increasingly affected by political factors and a lack of government support, the UK retail industry is becoming a crisis situation with hundreds of independent... Read more…

Search For Britain's Best Small Shop of 2019 Gets Underway

4 Jul 2019

The annual search to find Britain’s Best Small Shop, a competition managed by the Independent Retailers Confederation (IRC), begins today with a focus on consumer engagement and how... Read more…

Rising costs halt plans for walking and cycling crossing

25 Jun 2019

The plans for a new Thames walking and cycling crossing from Canary Wharf to Rotherhithe in London have been halted due to the rising costs
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Get involved in Local Bike Shop Day

24 Jun 2019

Local Bike Shop Day celebrates independent bike shops all around the UK
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Huge increase in e-bike sales expected

12 Jun 2019

The e-bike market is forecasted to grow further across the UK competing with the car for short distances.
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How retailers are responding to online growth

12 Jun 2019

The growth of the online market space within retail is having a wider effect on the high street.
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Effective email marketing campaigns

12 Jun 2019

Newsletters are an incredibly popular means to engaging with consumers but on any given day our inboxes are flooded with a plethora of automated email newsletters, so how do you stand out?
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Report on violence in your store

12 Jun 2019

The Association of Convenience Stores (ACS) and the Home Office have been campaigning to raise awareness of violence and abuse towards retailers to encourage action and change.
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Love to Ride & The ACT

5 Jun 2019

Getting more people on bikes and using their local bike shops is a shared goal of Love to Ride and the ACT so we are doing it together.
Read more…

A guide to building a landing page

30 May 2019

15 key things to check when building a landing page Read more…

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Changes to Wage Rates, Tax Rules and Business Rates

Posted on in Business News, Cycles News

pension scheme Certain changes have come into effect from the 1st of April and we are just reminding retailers of these important changes.

National Living and Minimum Wage Rates

The National Living Wage is applicable to all workers aged 25 or over.

Workers must be at least 16 (school leaving age) to get the National Minimum Wage.

National Living Wage and Minimum Wage rates from the 1st of April 2019:

  • Employee aged 25 and over (NLW rate): £8.21 per hour
  • Employee aged 21 and over: £7.70 an hour
  • Employee aged 18 to 20: £6.15 an hour
  • Employee under 18: £4.35 an hour
  • Apprentices: £3.90 an hour

If you need any more information about wage rates, including further details on statutory sick pay and holiday entitlement click here.

Making Tax Digital (MTD)

MTD has changed the way that retailers submit their VAT return.

Businesses now need to keep their VAT records digitally and use specific software to submit returns.

Businesses with a taxable turnover above the VAT threshold (£85,000) must:

  • Keep VAT records digitally
  • Use MTD-compatible software to submit their VAT returns

Retailers will need to keep business records digitally from the start of all accounting periods on or after the 1st of April.

Digital records should include for each supply, the time of supply (tax point), the value of the supply (net excluding VAT) and the rate of VAT charged.

Digital records will also need to include your VAT Registration Number and details of any VAT accounting schemes used.

If you are looking for guidance in submitting quarterly tax updates under MTD, click here to access the ACS' guide.

Business Rates Discount

Chancellor Philip Hammond announced that businesses with a rateable value of under £51,000 would receive a 1/3 discount on their rates bills.

Guidance published by MHCLG confirms that the 1/3 discount will be available to eligible businesses for the years 2019/20 and 2020/21. The guidance recognises the inclusion of petrol forecourts and post offices within the definition of businesses that are ‘wholly or mainly being used as shops, restaurants, cafes and drinking establishments'. However, ATMs are not included within the definitions and are subsequently not eligible for the discount.

The business rate relief is automatically allocated by Local Authorities (after any existing mandatory and discretionary reliefs) and included in your rates bill issued early in 2019. If you believe you are eligible for relief but have not received the discount please contact ACS for a template letter to send your local authority via email at steve.dowling@acs.org.uk.

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