Quote:
Originally Posted by Cyfr
Yes my question was why does apparently high tax result in only charity and pound shops? I understand the concept of not being able to tax shops if they're empty  |
Sorry, I thought Lindsay had already answered that, but here it is in fuller detail.
Charity shops benefit from exemption from corporation tax on profits, 80% mandatory rate relief and a zero V.A.T. rating on the sale of donated goods. A further 20% rate relief is available at the discretion of local authorities.
Mass volume sales stores, aka pound shops, have a relatively high turnover, and that results in them being one of only a few type of businesses that can afford the expensive rent and rates that the owners of the retail spaces charge, the owners our council gave planning permission to.
Fairly straight forward really.