News

ACS has given evidence to the House of Lords Finance Bill sub-committee on the Making Tax Digital proposals, urging the Government to extend the timeframes for transferring business tax accounting onto digital platforms.

The proposals, originally published through six consultation documents in August 2016, aim to introduce a fully digital tax system with the intention of reducing errors in tax reporting.

The Home Office, fuel retailers and police have come together to tackle the £36 million annual cost of fuel theft on the UK’s petrol forecourts.

The impact that fuel theft is having on the sector has sparked industry groups, including the Association of Convenience Stores, the Petrol Retailers Association and the Downstream Fuel Association into action to develop new guidance to support fuel retailers in training their staff to prevent drive offs and report incidents to the police using a new standard reporting form.

ACS (the Association of Convenience Stores) has welcomed a report from the House of Commons Treasury Select Committee which calls on the Government to delay the implementation of mandatory digital tax reporting.

In the report, the Committee states that the initially proposed timetable of April 2018 for most businesses to be reporting tax digitally is over-ambitious, and could result in unnecessary costs and administrative burdens for businesses.

Other recommendations in the report include:

ACS has produced comprehensive new guidance for retailers on the upcoming changes to tobacco retailing coming into force as part of the revised EU Tobacco Products Directive and Standardised Packaging legislation.

From 20th May 2016, manufacturers are only able to produce tobacco in standardised packaging and in a minimum pack size of 20, with restrictions also being put in place for roll your own tobacco. Retailers have a sell-through period of one year to May 2017 in which to ensure that all of their stock is compliant with the new regulations.

As retailers prepare for Christmas, ACS is urging retailers to ensure that they are aware of products that have age restrictions on them.

Convenience store retailers have made record investments in their business over the last three months ahead of expected price rises in the New Year and despite rising costs, according to new research from ACS.

Over the last three months, retailers have invested almost £300m on measures to improve their business, with the total amount invested in 2016 reaching £838m.

The Government and Royal Mint are supporting retailers to prepare as the 30-year-old round pound coin is brought out of circulation and replaced with a new 12-sided version. The target week for the introduction of the new coin is the last week of March 2017.

The new pound coin will be the most secure of its kind in the world. This is to combat counterfeiters. There are around 45 million counterfeit £1 coins currently in circulation, generating significant cost to industry and taxpayers.

ACS (the Association of Convenience Stores) has responded to the PRS for Music consultation on the simplification of the PRS retail tariff, raising concerns that the changes will hit the smallest shops the hardest.

Under the proposals, any business that previously had a reduced rate for having a small audible area (by broadcasting through a single radio or television) will incur a £51.50 increase to their rates each year.

ACS (the Association of Convenience Stores) has called on the Government to do more to reform the business rates system in a submission to the Treasury ahead of the Chancellor’s Autumn Statement on November 23^rd.

ACS (the Association of Convenience Stores) has called on the Government to focus on tackling obesity through a partnership approach with retailers and suppliers, rather than instead of imposing a levy on soft drinks.  ACS has responded to the government’s consultation on the introduction of the levy.