Commercial Property Advisors (CPA), specialists in winning rates reductions for a wide variety of clients, strongly regrets that £1 in every six of business rates relief has been enjoyed by the UK's leading supermarkets, who at the same time are blithely paying dividends to shareholders.
For example, Sainsbury's was paid
£230m in business rates relief in the first six months of 2020, while paying £231m in dividends to shareholders.
"Every victory for our clients , in achieving rates reductions , has been hard-won and time-consuming", says David Tanswell CEO of CPA. "The £2 bn. giveaway in relief to supermarket giants would be better spent in improving the lot of our independent retailers, many of whom face a bleak future. I urge any business struggling with high business rates - particularly if they have re-purposed their product offer- to contact CPA for a free consultation on their eligibility to win considerable savings (backdated) in their rates bill, an unwelcome burden for so many".