Storefront ATM machines will be subject to business rates
A tribunal has ruled that cashpoints built into stores should be subject to a separate business rate.
The judgment by the Upper Tribunal follows a long-running case brought by a number of businesses including Sainsburys, Tesco, Co-op and ATM operator Cardtronics. Shops may have to pay an average of almost £2,800 more in tax on their cash machines as part of the Government’s increase in business rates.
Rents and rates specialists CVS estimate business rates increases cost retailers £39.3 million a year. The number of cash machines liable for business rates has gone from 3,140 in 2010 to 14,068 this year.
According to CVS, almost one in six business rates appeals currently lodged relate to cash machines.