Monthly Archives: March 2021

Government extends business rates relief by £1.5bn to help more Covid-hit firms

Originally written by Anna Jordan on Small Business
The Government is making an extra £1.5bn in business rates relief available to firms that weren’t eligible before – including offices and wholesalers.
Existing business rates relief  is available to those in retail, leisure and hospitality.
The Federation of Small Businesses (FSB) welcomed the move. “Many of those businesses such as wholesalers, suppliers and brewers have been hit hard by the pandemic but haven’t been able to access the same levels of support,” said its national chair, Mike Cherry.
However, business rates relief appeals made due to Covid-19 are now banned as well. These appeals were expected to cost up to £5bn, so the Government has saved itself £3.5bn, according to figures from the Rating Surveyors’ Association.
>See also: Business rates appeal talks halted as thousands of firms wait for outcome
The Government said that allowing rates appeals on material change of circumstances could have led to ‘significant amounts of taxpayer support going to businesses who have been able to operate normally throughout the pandemic’. It added this could disproportionately benefit firms in London.
‘It is the wrong thing to do on every level’
Experts describe the move as ‘outrageous’, writing off the hundreds of thousands of business owners who

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A quarter of small exporters cease selling to EU since Brexit transition end

Originally written by Anna Jordan on Small Business
More than a quarter of small exporters have ceased selling to customers in the EU following post-Brexit transition delays.
The Federation of Small Businesses (FSB) warns that what might have been previously dismissed as ‘teething problems’ could become systemic.
A survey of nearly 1,500 small companies carried out by the FSB found that 23 per cent had temporarily stopped selling to the EU while four per cent had halted sales permanently. Eleven per cent of exporters were said to be considering a permanent halt.
The same proportion had set up or were thinking of establishing a presence in a European country to make the process easier. Around nine per cent may secure, or are already using, warehouses in mainland Europe or Northern Ireland for the same purpose.
Small importers have been particularly hard hit by new paperwork as 17 per cent temporarily halt purchases from the EU. What’s more, a massive 70 per cent of importers and exporters say they have suffered delays when moving goods around the EU in recent weeks. More than 30 per cent have lost goods in transit and a slightly higher proportion have had goods held indefinitely at EU border crossings. Of

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Visa will settle transactions in USD Coin via the Ethereum blockchain

Visa Inc (NYSE:V) will start allowing the cryptocurrency USD Coin to be used for payment settlements on its network. It’s the latest sign that mainstream financial companies are starting to accept digital currencies. Q4 2020 hedge fund letters, conferences and more Visa Starts Using USD Coin For Payment Settlements According to CNBC, Visa launched the […]

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