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Retail Trade: Tax Burden

Question for Treasury

UIN 277669, tabled on 16 July 2019

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of (a) reducing and (b) simplifying the tax burden for independent retailers.

Answered on

22 July 2019

At Budget 2018 the Government introduced a Retail discount which cuts small retailers’ business rates bills by a third for two years from April 2019. This is worth over £1 billion to businesses. The Government has also doubled the threshold for Small Business Rate Relief from April 2017 benefitting the smallest retail properties. This means 675,000 of the smallest businesses now pay no rates at all.

The Government is committed to a fair tax system that is simple to understand and easy to comply with. The Office of Tax Simplification provides independent advice to the Chancellor on simplifying the tax system.

Answered by

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