Business as usual at Exmouth Market
STALLHOLDERS at Exmouth Market have vowed to fight the recession and achieve a successful 2010 – just days after its manager said traders could face a horrible struggle this year. Speaking to the Journal last week, Jerry Miller, the manager of the shop
STALLHOLDERS at Exmouth Market have vowed to fight the recession and achieve a successful 2010 - just days after its manager said traders could face a 'horrible struggle' this year.
Speaking to the Journal last week, Jerry Miller, the manager of the shopping complex, hinted the centre could shut if each stallholder was charged business tax - a plan being considered by the Valuation Office Agency.
Yet, it was business as usual in the opening week of January, with shoppers descending on the market, many for the first time in its 30th anniversary year.
A spokesperson for the Valuation Office Agency, affiliated to the Inland Revenue and responsible for business rates, confirmed the body was to undertake a review of the rate-payment process for town centre markets during 2010.
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Jerry Miller currently pays the tax for the entire complex and is concerned if each stallholder is charged, many would struggle financially and the centre could have a bleak future.
The VOA spokesperson said: "To maintain fairness and consistency, the VOA will undertake a review of town centre market halls during 2010.
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"The aim of this exercise is to ensure uniformity, in that business rates liability is correctly applied to either the overall market site or the individual stall holders, whichever is most appropriate in accordance with the legislation and relevant rating case law.
"This review will be carried out in close consultation with market owners, traders and trade associations
"This is to ensure potential changes are flagged up well in advance and that opportunities are available to provide detailed information in respect of occupation of the stalls, which will support the decision making process.