// Frasers Group has referred to as on the federal government to evaluate enterprise charges
// Greater than 50 excessive road retailers wrote to chancellor Sajid Javid to name for “a wholesale evaluate of enterprise taxes”
Mike Ashley’s Frasers Group has joined the BRC in calling for the federal government to “considerably modify” the present system.
On Thursday, over 50 high street retailers wrote to chancellor Sajid Javid to name for “a wholesale evaluate of enterprise taxes to create a tax regime match for the 21st century”.
The retailers embrace Ann Summers, Debenhams, Deichmann, Fenwick, Harrods, John Lewis Partnership, Marks & Spencer, New Look, Primark, and River Island.
“With the UK excessive road on life assist, the time for reform has lengthy since handed,” Frasers Group stated.
“Transitional reduction particularly is disastrous for an ideal many retailers and must be considerably modified to no less than guarantee the correct quantity of charges are paid by the top of transitional reduction durations.
“The present system whereby downward transitions of just some % a yr signifies that the correct quantity isn’t reached and even near, punishes these in best want of reduction.
”Throughout the Frasers Group itself now we have some shops paying as much as 4 occasions the charges payments they need to be. This type of sample clearly can’t be proper and is little doubt repeated extensively throughout UK retail; it’s a important contributor to the dire straits the excessive road at present finds itself in.”