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Large number of bike shops help Cambridge be as named best city for independent retailers

24 Nov 2022

According to a new survey, Cambridge is the best in the country for independent shopping to support small businesses. The study found that many of the city's small businesses turned out to be... Read more…

Indie Retailers in York to get funding boost from City Council

22 Nov 2022

Groups of independent retailers in York are to receive a £25,000 funding boost to help with promotion during the Christmas trading period and to attract more customers in 2023.
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IRC backs ‘Colour Friday’ alternative to Black Friday sales

22 Nov 2022

The IRC has joined bira and other retail trade associations in backing the ‘Colour Friday’ alternative to this week’s Black Friday sales.
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Wandsworth indies comes together to boost local business during Christmas

21 Nov 2022

Shop owners in Earlsfield, Wandsworth are teaming up in the run-up to keep the high street busy in the run-up to Christmas. With the cost-of-living crisis affecting independent shops, the... Read more…

V12 are extending their opening hours to support retailers and customers during this festive period.

21 Nov 2022

During this festive period, V12 want to increase the support available to you and your customers. From this Friday their Customer Services, Underwriting and Validations teams will be operating... Read more…

Dave Wilsher ex-ACT Director wins Family Business of the Year

18 Nov 2022

Dave Wilsher ex-ACT Director wins Family Business of the Year at the Kent Invicta Chamber of Commerce awards.
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Retail Sector Reacts with Cautious Welcome to Chancellor’s Autumn Statement

17 Nov 2022

Retail and small business organisations have given a cautious welcome to business-focused aspects of the Chancellor’s Autumn Statement.
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Confront the recession head on, says the ACT.

17 Nov 2022

Cycle retailers around the UK facing up to the imminent challenges of recession will need to stay one step ahead of the curve to survive. Now is the time to benefit from being part of something... Read more…

Grants of £30K available to create up to eight secure cycle storage facilities across Belfast

15 Nov 2022

Belfast City Council is seeking expressions of interest to provide publicly accessible secure cycle storage facilities across the city.
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Mary Portas warns government to act now or see half of high street shops shut

14 Nov 2022

Ahead of the Chancellor’s Autumn Statement this week, retail expert Mary Portas called on the Government to rethink business rates and VAT to help struggling retailers.
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Energy Bill Relief Scheme for businesses to continue to end of March 2023, Chancellor confirms

Posted on in Business News, Cycles News

The new Chancellor of the Exchequer, Jeremy Hunt, has confirmed in a statement that the Energy Bill Relief Scheme for businesses will continue to the end of March 2023 as planned.

Jeremy HuntHowever, the Chancellor has ordered a Treasury-led review into how to provide energy support to individuals and businesses from April 2023. The Chancellor stated that support should be targeted to businesses that need help most. Businesses are being urged to complete the government’s survey here.

Mr Hunt’s statement included several other announcements regarding last month’s mini-budget.

The Chancellor also announced that:

  • The basic rate of income tax, which was due to be cut to 19%, will now remain at 20%
  • The scrapping of the rise to corporation tax has been abandoned. Corporation tax will rise to 25% in April 2023
  • Reforms to IR35, off-payroll employee pay, and dividend tax reforms have been dropped
  • The introduction of VAT-free shopping for tourists visiting the UK has been scrapped
  • The freezing of alcohol duty rates has been scrapped
  • The 1.25% rise to National Insurance Contributions, to fund the Health and Social Care Levy, will be dropped as planned
  • The Annual Investment Allowance, Seed Enterprise Investment Scheme and Company Share Options Plan will go ahead as planned

The Chancellor will publish the government’s fiscal rules with an OBR forecast, and further economic measures on 31st October 2022.

In his statement, the Chancellor said:

"Any support for businesses will be targeted to those most affected and the new approach will better incentivise energy efficiency."

"The most important objective for our country right now is stability. Governments cannot eliminate volatility in markets, but they can play their part, and we will do so because instability affects the prices of things in shops, the cost of mortgages, and the values of pensions."

"There will be more difficult decisions, I'm afraid, on both tax and spending as we deliver our commitment to get debt falling as a share of the economy over the medium term."

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