In this episode, host Gary Marshall discusses Business Rates and Pubs, particularly a recent U-Turn by the UK Government as it seeks to mollify Publicans who were outspoken about rates increases on their businesses.

Gary highlights the new discount being offered to pubs and live music venues, but not to any other business such as retail. He considers the example that this presents – pubs as a special case – to argue that the same argument applies to all businesses, and that this could be the opportunity to bring about greater change such as replacing the Business Rates system with a fairer and more relevant business tax.

Link to Gov.uk check Rateable Values https://lnkd.in/eEz3FVdy

Link to BBC article, demands for Retail to be treated same as pubs https://www.bbc.co.uk/news/articles/cp80l2ndz5yo

Link from Commons Library on Rates/discounts https://commonslibrary.parliament.uk/research-briefings/cbp-10460/

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Never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.

Find out more and message us on the podcast website

Go to ThatRetailPropertyGuy for more on Gary Marshall, Smarter Estates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

Host Gary Marshall welcomes Listeners to another series of That Retail Property Guy.

Series 1 closed on a cliffhanger of upcoming FRS 102 accounting changes.

Series 2 opens by checking back in on that – what consequences or observations have become apparent since it went live on 1st Jan?

Gary reminds Listeners that changes to FRS 102 mean that the Balance Sheet must now recognize right-of-use assets and lease liabilities for many leases, which requires data gathering, analysis, and discounted cash-flow values. He urges tenants to reach out to experienced advisers.

And from the perspective of a retailer as tenant, Gary recognizes the cyclical nature of retail estate management, as yearly activities come around again.

He suggests some tasks in planning and budgeting for upcoming breaks or expiries, new acquisitions or disposals, as well as rent reviews, rates appeals, scrutinising service charge proposals and reconciling year-end accounts.

As one example of Housekeeping, he highlights Business Rates where February is a key date, he urges occupiers to check that annual rates accounts are now clear, and to recover any credit balances, which could amount to thousands of pounds. But he also highlights some of the challenges in identifying and recovering those credits.

Send a text

Never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.

Find out more and message us on the podcast website

Go to ThatRetailPropertyGuy for more on Gary Marshall, Smarter Estates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!

New FRS 102 Accounting rules introduce changes to how lease liabilities are reported in a business' annual accounts. This episode considers the impact of lease length in those calculations, where breaks, options to extend, reversionary renewals and Minutes of Variation might have a substantial impact but protected renewals under the 1954 L&T Act might not.

Send us a text

Never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.

Find out more and message us on the podcast website

Go to ThatRetailPropertyGuy for more on Gary Marshall, Smarter Estates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.

For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstates

And find Gary and team on LinkedIn for regular updates and community info!