{"id":204333,"date":"2022-05-23T15:10:16","date_gmt":"2022-05-23T14:10:16","guid":{"rendered":"https:\/\/theindustry.beauty\/?p=204333"},"modified":"2022-05-23T17:13:48","modified_gmt":"2022-05-23T16:13:48","slug":"high-street-retailers-pay-755-more-in-rates-than-online-rivals-research-reveals","status":"publish","type":"post","link":"https:\/\/theindustry.beauty\/high-street-retailers-pay-755-more-in-rates-than-online-rivals-research-reveals\/","title":{"rendered":"High street retailers pay 755% more in rates than online rivals, research reveals"},"content":{"rendered":"

Experts have said traditional retailers now pay 755% more in business rates than digital competitors as a war of words intensifies over a potential new online sales tax.<\/strong>
\n<\/p>\n

On Friday, the Government closed a consultation into the possible introduction of a tax on ecommerce as a potential measure to fund a reduction in business rates.<\/p>\n

Bosses at Sainsbury\u2019s urged the Government to launch the new tax as it accused the current business rates system of \u201cdestroying high streets up and down the country\u201d.<\/p>\n

However, retail rival Marks & Spencer <\/span><\/a>said an additional tax on retailers would mean they will \u201ccut their cloth accordingly\u201d.<\/p>\n

New analysis by real estate advisory firm Altus Group shows that for every \u00a3100 earned by large retailers in Great Britain, excluding non-store sales and fuel, \u00a32.91 of that was due to local councils in business rates.<\/p>\n

However, for large online-only retailers, for every \u00a3100 in sales, their total business rates amounted to just 34p, according to the data. Estimates suggest a revenue-based online sales tax of 1% on the online sale of goods to UK customers above an allowance of \u00a32 million for smaller firms could raise around \u00a31 billion a year.<\/p>\n

Robert Hayton, UK President at Altus Group, said: \u201cRingfencing that revenue and targeting it to actually cut rates for retail, leisure and hospitality premises could lead to a reduction in rates of about 9%\u201d.<\/p>\n

Tax authorities around the world have been grappling for years to try to reach an international agreement with the likes of Amazon officially reporting their British retail sales in Luxembourg.<\/p>\n

Hayton added: \u201cNo solution will be easy nor perfect but, if left unchecked, could lead to the substantial extinction of the high street and the erosion of local communities\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

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