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/

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!

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!

Newly amended UK domestic accounting standard FRS 102 kicks in 1st January 2026. This episode compares the old & new rules for recognizing lease incentives such as rent free or landlord’s contributions. Tune in to gain valuable insights, and ensure your business is prepared.

00:00 Introduction to FRS 102 and Podcast Overview

00:49 Understanding FRS 102: Basics and Implications

01:34 Lease Obligations and Financial Reporting

03:24 Calculating Lease Liabilities and Incentives

05:30 Rent-Free Periods and Break Options

08:35 Complexities of FRS and IFRS Reporting

09:14 Stamp Duty and Its Impact on Lease Accounting

10:45 Conclusion and Final Thoughts

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!

Preparing for FRS 102: Discount Rates when calculating Lease Liabilities

This episode is part of a mini-series focusing on the challenges faced by retailers as tenants, for the upcoming mandatory changes to domestic accounting standard, FRS 102, set to take effect on January 1, 2026.

Host Gary Marshall explains the complexities of discounted cash flow calculations, and the importance of choosing the appropriate discount rate for accurate financial reporting

He suggests practical steps for small businesses, and some potential pitfalls for low-cost reporting solutions. Listeners are encouraged to consult with experienced accountants or FRS specialists!

00:00 Introduction to FRS 102 Changes

00:55 Understanding Lease Liabilities

03:01 Calculating Discount Rates

06:24 Discount Rate Options and Implications

10:05 Practical Considerations for Small Businesses

11:46 Conclusion and Final Thoughts

Link to excellent article: https://www.linkedin.com/pulse/whats-new-frs-102-discount-rates-lease-accounting-harpreet-kaur-0ncte/

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!

In this episode of 'That Retail Property Guy,' host Gary Marshall examines new FRS 102 accounting standards set to impact UK and Irish retailers from January 1, 2026, considering the challenges of transitioning existing leases to the new reporting method, the options available for doing so, and the potential impact on annual accounts. For Retailers with Leases, this episode offers valuable insights into preparing for the significant changes ahead. Tune in for practical tips to ensure a smooth and compliant transition.

00:00 Introduction to the Podcast

00:20 upcoming FRS 102

00:44 Challenges with Existing Leases

01:05 Basics of FRS 102

01:55 Impact on Retailers

06:01 Transitioning to FRS 102

06:24 Modified vs. Full Retrospective Application

09:47 Practical Considerations for Retailers

11:44 Conclusion and Suggestions

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!

New FRS 102 accounting rules: Retailers, Are You Ready?

In this episode of 'That Retail Property Guy,' host Gary Marshall reminds retailers of the upcoming changes in Accounting Standard FRS 102, which takes effect on January 1, 2026. He discusses the impact retailers' leased assets, the complexities of calculating lease liabilities for the Balance Sheet, and specifically this episode addresses Turnover Rents!

00:00 Introduction to the Podcast

00:27 Overview of FRS 102 (and IFRS 16)

01:25 Current UK Accounting Rules and Lease Obligations

02:31 Complexities in Lease Calculations

04:36 Turnover Rent and Its Implications

07:23 Transitioning to New FRS 102 rules

09:53 Preparing for the New Standards

12:27 Conclusion and Final Thoughts

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!

Understanding Landlord Competency in Lease Renewals

In this episode of 'That Retail Property Guy,' host Gary Marshall explores the legal competency of landlords under the 1954 Landlord and Tenant Act, as usual from the tenant's perspective. He discusses renewal rights under the 1954 Act, with potential consequences for tenants who are not in occupation for business or when dealing with subleases. He highlights the possibility for a new landlord to insert themselves into the chain of competency – with ensuing risks for the occupying tenant. Marshall highlights the criticality for tenants in identifying their true landlords, highlighting the importance of serving Section 40 notices to obtain robust data, and mentions the '14 month rule,' which determines a landlord's legal competence at lease-expiry to grant or oppose new leases.

00:00 Introduction to Retail Property Insights

00:41 Landlord Competency Under the 1954 Act

01:48 Identifying the True Landlord

03:35 Section 40 Notices and Tenant Rights

04:34 The 14-Month Rule Explained

05:24 Intermediate Tenants and Subleases

07:52 Landlord's Rights and Grounds for Possession

09:32 Case Study: Wicks vs. Marks and Spencer

10:45 Managing End of Lease Scenarios

13:56 Conclusion and Final Thoughts

The Times article: https://www.thetimes.com/business-money/companies/article/retailers-resort-to-ungentlemanly-tactics-in-uk-turf-war-870h6pb76

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!