Business Rates
We provide essential coverage of business rates policy and reform, and how it impacts operators across the UK foodservice and hospitality sector. From government relief schemes and revaluation updates to lobbying efforts led by UKHospitality and industry coalitions, this captures the key developments influencing site viability and cost pressures. Whether you run a single high-street restaurant or oversee a multi-site pub or catering group, we explain how changes to the business rates system affect your bottom line, and what you need to know to plan ahead.
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Dec- 2023 -18 DecemberGovernment
10,000 hospitality groups may benefit from Scottish rates relief, reports find
Around 10,000 hospitality businesses would stand to benefit if the Scottish government heeded the calls from UKH Scotland and introduced a business rates relief scheme, replicating support in England, according to The Fraser of Allander Institute. The institute found that those businesses are ineligible for the small business bonus scheme,…
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Nov- 2023 -22 NovemberNews
Chancellor extends business rates relief for hospitality
Chancellor Jeremy Hunt has announced a series of measures to help boost the UK economy as part of his Autumn Budget including slashing National Insurance by 2% and freezing business rates for retail and hospitality. As part of the new measures, Hunt revealed that National Insurance will be cut from…
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22 NovemberNews
UKH criticises 10% rise in NLW amid business rates row
UKH has criticised the government’s latest announcement that the National Living Wage will rise 10% and 28p more than originally planned, saying that this increase will have a “knock-on” effect on businesses already struggling with costs. Yesterday, the government announced that the NLW will increase to £11.44 from April 2024,…
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22 NovemberBusiness
Confidence in hospitality sector climbs again
Nearly half (49%) of hospitality business leaders feel confident about the hospitality market over the next 12 months, up by four percentage points from August’s figure of 45%. Only 5% of leaders say their business is currently at risk of failure, down from 11% last quarter. The number feeling pessimistic…
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21 NovemberNews
Today’s news in brief – 21/11/23
The NTIA warned that one-fifth of night-time businesses might collapse by January without government support. Over 70% are barely breaking even or running at a loss. Independent businesses make up over half, with 95% calling for a VAT cut and 78% urging an extension of pandemic-era business rates relief. Michael…
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21 NovemberPubs and Bars
One fifth of night time businesses face collapse, NTIA warns
One fifth of night time economy businesses face collapse before January without government support in the Autumn Statement, according to the Night Time Industries Association (NTIA). Almost three quarters (72%) of businesses stated that they were barely breaking even or making a loss. Over half (55%) of the businesses polled…
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16 NovemberNews
Young’s acquires City Pub Group for £162m
Young’s and Co has today (16 November) announced the acquisition of AIM- listed owner and operator of an estate of premium pubs and bedrooms, City Pub Company, for £162m. The company has said to have closely followed the City Pubs estate for some time and that the transaction represents a…
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13 NovemberPubs and Bars
Daniel Thwaites turnover jumps 4% in H1
Daniel Thwaites has revealed that turnover for the half-year ended 30 September hit £60.3m, increasing by 4%. This is despite the group’s operating profit dropping from £9.9m last year to £8.8m for the half-year, which was attributed to the impact of property disposal at the hospitality group. Daniel Thwaites reported…
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10 NovemberNews
Today’s news in brief – 10/11/23
Krispy Kreme reported net revenues of $407.4m (£333m) in Q3, marking a 7.9% increase compared with the same quarter in 2022. The international segment saw a 15.4% growth in net revenue. The company reported a GAAP net loss of $40.3m (£32.9m) for the quarter. Adjusted EBITDA in the quarter grew…
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10 NovemberTrade Associations
Hospitality leaders call for ‘urgent action’ in Autumn Statement
Michelin-starred chefs and publicans have joined industry CEOs from more than 230 companies in signing an open letter to the chancellor calling for urgent support ahead of this month’s Autumn Statement. Tom Kerridge, Monica Galetti, Tom Aikens and Jodie Kidd were among the chefs and publicans included in the letter,…
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