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CHANCELLOR SLASHES BUSINESS RATES FOR SMALL BUSINESSES

Around 600,000 small businesses will pay no business rates at all from April next year and another 250,000 will have their bills reduced after Chancellor George Osborne extended rate relief in his eighth budget. In a budget welcomed by business organisations, Osborne said that by raising the threshold at which rates cut in from £6,000 to £15,000, many small firms will save £6,000 a year. Other small business-friendly measures included reducing the headline rate of corporation tax from 20% to 17% by 2020 and taking steps to make internet traders based overseas pay VAT. “The Chancellor has listened to our calls for the tax system to be made simpler for small businesses and the self-employed and taken important action on business rates,” said Mike Cherry, the Policy Director at the Federation of Small Businesses. He added: “The combined measures announced on business rates – the single biggest tax cut in today's budget – will be viewed by our members as a welcome and important step on the road to fundamental reform.” Dr Adam Marshall, the acting Director General at the British Chambers of Commerce, said the Chancellor “has finally taken real action to lessen the crushing burden of business rates and sharpened incentives for entrepreneurship and investment.” Following recent controversies about international businesses paying little or no tax on money raised in the UK, the Chancellor pledged to raise £9bn by tightening tax rules and preventing companies shifting profits to tax havens. The tax-free personal allowance is increased to £11,500 from April next year, with the 40% income tax threshold rising to £45,000, taking 500,000 people out of paying higher rate tax. Class 2 National Insurance for the self employed will be abolished from 2018. Motorist-friendly measures included freezing fuel duty for the sixth year in a row – saving £275 a year for a small business with a van – widening the M62 and upgrading the A66 and A69, and halving tolls on the Severn crossings from 2018.

GROHE UPDATES SMART REWARD SCHEME

Grohe has updated its Smart reward scheme, which offers installers the chance to receive points on products, to provide members with a wider range of products to exchange their points for, including Molton Brown gift sets and Apple products. Installers can exchange their Smart points for products within the work & tools, multimedia, kitchen & living, barbecuing & gardening and leisure & wellness categories. Around 1,700 Grohe products are included in the scheme, allowing members to accumulate points from purchasing the products to exchange for rewards.

PIPES & FITTINGS MARKET TO SEE 5% GROWTH IN 2015

The UK pipes and fittings market is expected to report a 5% growth rate in 2015, according to a new report by AMA Research, due in part to improving levels of construction in the commercial and housing sectors, as well as falling raw material prices. The market has grown by around 15% since 2012, AMA said. The plumbing pipe systems sector comprises around 60% of the market, according to the research firm. Builders' merchants are the main channel of distribution for the market, accounting for around 50% of distribution, followed by specialist distributors and DIY stores. “The outlook for the UK pipes and fittings market in 2016 is positive, supported by the growth of new construction levels and RMI expenditure,” said AMA Research director Keith Taylor. “Private housing completions are forecast to experience steady growth in the medium to longer term, while the private commercial sector is likely to drive new-build demand in the non-domestic market. “Growth sectors should include budget and luxury hotels, care homes and student accommodation, and there may also be opportunities in the education sector, where around 70% of washroom installations are over 20 years old and many heating systems are aged,” he added.

MIELE, SAMSUNG, AO.COM SHORTLISTED IN WHICH? AWARDS

Miele, Samsung, John Lewis, New World and Sebo have been shortlisted for the Home Appliance Brand of the Year category in the 2016 Which? Awards, while AO.com, John Lewis and Toolstation have been shortlisted for the Retailer of the Year category. The winners of the awards will be announced at a ceremony on 25th May, with this year's event marking the consumer watchdog's 10th annual awards ceremony. “The Which? Awards celebrate brands that succeed because they put consumers at the heart of their business,” said Which? Group CEO Peter Vicary-Smith. “For our 10th Which? Awards, we are looking to reward businesses that deliver excellent products and services, and those that seek to change things and innovate to consistently deliver more for their customers.”

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GEBERIT NAMES ROOTS AS BEST DOMESTIC INSTALLER

Geberit has given its Best Domestic Installer award to Faversham-based Roots Kitchens Bedrooms and Bathrooms for the latter's use of Geberit pipework and sanitary systems in the renovation of the family bathroom in a 16th century home. Retailer Dave Roots received the award as part of the Geberit Awards 2015, with second place for Best Domestic Installer going to Mark Fowdon of Studio South West and third place to John Oliver of EBI Design. The awards also included categories for Best Apprentice, Best Installer Team and Best Supply System Installer. “The level of competition this year was extremely high and picking out the winners was a very tough task indeed for our expert judging panel,” said Geberit Managing Director Mark Larden. “The awards are designed to recognise quality, excellence and innovation and it is very encouraging to see so much of all three of these important virtues being clearly demonstrated in our industry,” he added.

LDL LAUNCHES NEW CONSUMER GUIDE

Distributor LDL Components has released a new consumer brochure – entitled 'Workflow, Space & Motion' – for kitchen storage systems and accessories, including products from Swiss partner Peka and component manufacturer Blum. The 24-page brochure includes tall storage, base units, pull-down shelving, waste management systems, under-sink ideas and accessories. “We felt there was a definite need for a new brochure to present an updated range of the storage solutions available in an accessible, consumer-friendly format,” said Managing Director Matthew Lord. “To further assist kitchen retailers, we are also offering an unbranded version of ‘Workflow, Space & Motion’ for personalising.”