Some retailers that stayed open in pandemic net a £75m windfall

Some retailers that traded in pandemic net a £75m windfall from tax break aimed at worst hit firms – while others hand cash back to the Treasury

A handful of retailers that have remained open throughout the pandemic could be set for a £75million windfall designed to help the worst hit companies in the sector.

Chancellor Rishi Sunak has left the door open for essential retailers to opt out of the latest full business rates holiday over the three months from the beginning of April.

A number of companies – including Iceland and Home Bargains – have been criticised for accepting the tax relief despite remaining open. The firms involved argue that the cost of keeping stores open and protecting staff and shoppers has left a hole in their finances.

Treasury: Chancellor Rishi Sunak has left the door open for essential retailers to opt out of the latest full business rates holiday

There has been a rush of companies confirming plans to hand money back including Tesco, Sainsbury’s and Morrisons.

But around £800 million is still outstanding from retailers that remained open, according to Altus data.

Waitrose, which has so far opted to keep the money, will have an opportunity to signal its intention to refuse the latest tax break when the results of parent group John Lewis Partnership are announced this week. It is worth about £10million a month.

Others that have not yet indicated they will reject the tax holiday include the Coop, Iceland, Home Bargains and The Range.



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