COVID-19: B&Q owner hands back rates relief to take total returned past £2bn

B&Q owner Kingfisher is to return £130m in business rates relief taking the total handed back to the Treasury to more than £2bn.

The announcement follows similar moves last week starting with Tesco, Britain’s biggest supermarket, which said it would forgo £585m in tax relief under a scheme designed to help businesses battered by the coronavirus crisis.

Tesco was followed by all of its “big four” rivals – Morrisons, Sainsbury’s and Asda – with Aldi, Lidl, B&M and Pets At Home also joining them.

Kingfisher, which owns B&Q and Screwfix in the UK and Ireland as well as chains such as Castorama and Brico Depot in Europe, said that “given the resilience of our business” it had decided to return business rates relief in both countries.

The total sum amounts to £130m – £1m in the Republic of Ireland and the rest of in the UK.

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