Skip to content
Search

Latest Stories

Supreme Court rules against separate business rates assessment of ATMs

The Supreme Court  has held that ATMs in stores should not be assessed separately for business rates.

On May 20, the court unanimously dismissed an appeal filed by Valuation Office Agency (VOA) challenging a Court of Appeal ruling that ATMs located both inside and outside of stores should not be assessed for additional business rates.


“External ATMs are to be treated the same as internal ones. That an external ATMs is available to a wider marker at all times, and is physically separated from the other facilities in the stores, does not detract from the Upper Tribunal’s finding that the retailers remained in occupation of the ATMs, nor that they were any less a part of the retailers’ businesses,” the court said in its judgement.

“The difference is no greater than the difference between an internal or external ATM in a bank building. Thus, the external ATMs remained in the rateable occupation of the retailers.”

The judgment came in a lengthy legal battle led by ATM operator Cardtronics and supermarket chains Tesco, Sainsbury’s and the Co-op.

The Valuation Tribunal for England initially decided that the ATM sites were in separate rateable occupation, but the Upper Tribunal in January 2017 made a distinction between ATMs inside a building and outside.

The Upper Tribunal had said that the sites of ATMs located within premises should not be assessed for business rates, but ‘through the wall’ external-facing ATMs should, which was later overturned by the Court of Appeal in November 2018.

“Retaining the imposition of rates on ATMs would have had huge ramifications not only for the industry, but the provision of available cash to spend locally and where needed. More so than ever, in the current climate, the right decision has been upheld by the court,” commented Emily Wood, partner at law firm DMH Stallard, who represented Cardtronics in the litigation.

Cardtronics said the ruling will help retailers to recover the estimated £300 million in business rates paid on ATM sites since 2010.

“This decision will benefit small businesses and local high streets, and the vital role they will play in the UK economy once the current lockdown has been lifted,” commented Marc Terry, international managing director of Cardtronics.

“Cardtronics’ data shows that the vast majority of ATM users spend the money they withdraw in the store which hosts the machine. In today’s challenging business environment, this additional footfall will be a vital contributor to the survival of many of our local high street businesses.”

The Association of Convenience Stores (ACS) chief executive James Lowman said the judgment will have a huge impact on the sector and urged the government to set up a simple refund process.

“This is a landmark ruling from the Supreme Court which will have huge impact on our sector and will help maintain widespread access to cash,” he said.

“It had become increasingly difficult for retailers to host ATMs with the high cost of business rates and cuts to interchange fees. The government now needs to implement the Supreme Court ruling by setting up a simple refund process which ensures full compensation is paid to all retailers who have been subject to wrongful business rates bills for ATMs”.

Figures from the 2019 Local Shop Report by the ACS show that 46 percent of convenience stores have a free to use cash machine, with 18 percent having a pay to use machine.

More For You

modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)

Key issues in India, US trade talks

TRADE talks between India and the US have hit a roadblock over disagreements on duties for auto components, steel and farm goods, Indian government sources said to Reuters, dashing hopes of reaching an interim deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

Here are the key issues at play:

Keep ReadingShow less
Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less
Trump-Getty

Trump said that while deals are being made with some countries, others may face tariffs.

Getty Images

Trump says major trade deal with India may be finalised soon

US PRESIDENT Donald Trump on Friday said a "very big" trade deal could be finalised with India, suggesting significant movement in the ongoing negotiations between the two countries.

“We are having some great deals. We have one coming up, maybe with India. Very big one. Where we're going to open up India," Trump said at the “Big Beautiful Bill” event at the White House.

Keep ReadingShow less
Asda suffers nearly £600m loss as debt and IT costs surge

Asda co-ownerMohsin Issa. (Photo: Asda)

Asda suffers nearly £600m loss as debt and IT costs surge

ASDA, one of Britain’s largest supermarkets, has reported a pre-tax loss of £599 million for 2024, swinging sharply from a £180 million profit the previous year.

The loss comes despite total sales rising by over £1 billion to £26.8bn, as the retailer faces mounting debt costs, falling sales, and spiralling spending on a major IT overhaul, the Telegraph reported.

Keep ReadingShow less
Mounjaro

Mounjaro, or tirzepatide, is part of a new class of weight-loss medications, with trials showing patients losing an average of 20 per cent of their body weight after 72 weeks.

Reuters

Lilly to sell Mounjaro pens in India as Wegovy enters market

ELI LILLY said on Thursday that it has received approval from India's drug regulator to launch pre-filled injector pens of its weight-loss drug, Mounjaro.

The move gives the company more options to compete with Novo Nordisk, which recently launched its weight-loss drug Wegovy in the country.

Keep ReadingShow less