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- 2021 -21 DecemberNews
Weekend hospitality sales plummet 40%, UKH finds
New figures show over half (54%) of venues were down more than 40% in revenues last weekend, according to industry body UKHospitality. One in five businesses reported a sales drop of more than 60%, whilst 88% of operators say they feel negative about the potential of New Year’s Eve trading.…
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20 DecemberCoronavirus
UKH calls for gov support amid threat of further restrictions
UKHospitality has called on the government to provide the necessary support to the hospitality sector amid reports that further restrictions to help battle the surge in Omicron cases could soon be announced. UKH chief executive Kate Nicholls said that need for support comes as trading has already been “hugely damaged…
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16 DecemberCoronavirus
Colliers calls for hospitality support amid ‘massive impact’ of Plan B
Calls from Chris Whitty for people to scale back their Christmas plans after Britain recorded 78,000 Covid in one day has had a “massive knock-on impact” on the retail, hospitality and leisure sector, which now urgently needs Government support, according to Colliers. As the public is heeding government advice to…
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Nov- 2021 -12 NovemberBusiness
Hospitality remains an ‘industry in peril’, UKH warns
The hospitality sector is ‘an industry in peril’ according to the latest edition of the UKHospitality and CGA Quarterly Tracker, which has revealed both Q3 2021 sales and full 12-month figures are nearly half what they were over the same period pre-pandemic. The data shows a 45% drop in sales…
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3 NovemberFood and Drink
Private equity deals surge in F&B market
Of the 32 deals announced in the food and beverage sector in Q3, 44% involved private equity (PE), a “significant” increase compared to the 33% in Q2, according to new research from Grant Thornton. Grant Thornton’s latest food and beverage insights found that the total deal value for PE in…
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Oct- 2021 -28 OctoberGovernment
UKH welcomes ‘positive’ Budget speech but urges Gov to ‘go further’
UK Hospitality has said yesterday’s (27 October) announcements by the chancellor in his Budget speech are a positive step but also urged the government to “go further” to support the “fragile” industry. It comes after Rishi Sunak unveiled a 50% discount on business rates for the hospitality, retail and leisure…
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27 OctoberNews
Chancellor unveils 50% rates discount for Retail, Hospitality and Leisure
Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…
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25 OctoberTrade Associations
Over 200 CEOs sign letter urging chancellor to permanently keep 12.5% VAT
Over 200 chief executives of the UK pubs, bars, restaurants, cafés, hotels, leisure parks, nightclubs, entertainment venues, and visitor attractions have signed a letter to the chancellor urging for a permanent cut to VAT. Ahead of his Budget next Wednesday (27 October), industry leaders have called for a permanent reduced…
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Sep- 2021 -21 SeptemberBusiness
Hospitality business optimism rises, CGA reveals
Some seven in 10 (70%) restaurant, pub and bar leaders have expressed their optimism about their businesses’ prospects for the next 12 months, according to the latest Business Confidence Survey from CGA. The survey showed that nearly three in five (58%) leaders felt optimistic about prospects for the general market…
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Aug- 2021 -25 AugustTrade Associations
UKH and BII call for further business rates reform
UKHospitality (UKH) and the British Institute of Innkeeping (BII) have combined to urge the Government to introduce business rates reform. The trade bodies together welcomed the opportunity to comment on the business rates revaluations consultation, and supported the notion to increase revaluations to every three years. However, they claimed that…
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