Feb 8, 2021
Tesco tells Chancellor to hit online rivals with sales tax
Business rates are calculated by looking at a property's rateable value and multiplying it by a tax rate set by the government. A new tax rate comes into effect at the start of each financial year on 1 April. Amazon's overall business rates bill for 2020-2021 is estimated by researchers to be £71.5m - just 0.37% of its retail sales. Arcadia - which owns Topshop, Burton and Dorothy Perkins - would have had to pay £91m in business rates on its 444 stores in 2020, had there not been a tax holiday, Altus Group says. "Our business rates review call for evidence included questions on whether we should shift the balance between online and physical shops by introducing an Online Sales Tax. We're considering responses now and will update in due course."
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