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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Oct- 2024 -31 OctoberBusiness
Budget reaction: Rising costs ‘latest blow’ to sector’s recovery
The hospitality industry has criticised chancellor, Rachel Reeves’ first budget, with UKHospitality claiming it is the “latest blow” to the sector’s recovery. Yesterday, Reeves announced a series of measures aimed at raising £40bn in taxes, including employers’ national insurance contributions rising to 15%, alongside hikes in both the National Living…
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30 OctoberNews
Budget: Increases to employers’ NI and minimum wage
The Chancellor Rachel Reeves has increased Employers’ National Insurance contributions in a bid to help raise as much as £40bn in taxes, pledging to also boost long-term growth and “mark an end to short term-ism” as part of Labour’s first budget since it came into power. Employers’ National Insurance contributions…
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28 OctoberNews-In-Brief
Today’s news in brief – 28/10/24
54% of hospitality businesses would cut jobs when business rates relief ends in April, according to a new joint survey conducted by the BBPA, BII and UKH. The report also highlighted that 76% would experience lower profit and 28% would have to close at least one site. The trade bodies…
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28 OctoberPubs and Bars
54% of hospitality firms to cut jobs and investment if rates relief ends
More than half of pubs and hospitality businesses would cut jobs (54%) and cancel investment (51%) if bills quadrupled when business rates relief ends in April, according to a new joint survey conducted by the British Beer and Pub Association, British Institute of Innkeeping and UKHospitality. The report also highlighted…
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24 OctoberBusiness
UKH appointed sole business voice to Covid-19 inquiry
UKHospitality has been appointed a core participant in the Covid-19 Public Inquiry in London today (23 October 2024), as the preliminary hearing into the economic response to the pandemic began. Chief executive Kate Nicholls and deputy chief executive Allen Simpson were in attendance as the sole private sector representatives at…
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22 OctoberNews
The Revel Collective FY losses widen to £36.7m
The Revel Collective, former Revolution Bars Group, has seen its loss before tax widen to £36.7m in its preliminary results for the year ended on 29 June. The group said that the result was mainly due to non-cash exceptional impairment charges from its restructuring plan. Despite strong festive trading and…
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21 OctoberNews-In-Brief
Today’s news in brief – 21/10/24
The UK’s top 100 restaurant groups saw profits dip to £244.1m in 2024 from £246.5m, according to new research by UHY Hacker Young. The firm has called this dip in profits a “creditable performance” considering the challenges the sector has faced from the cost-of-living crisis and years of losses the…
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21 OctoberBusiness
170 hospitality bosses call for business rates action ahead of Budget
170 hospitality leaders have backed UKHospitality’s call for a lower level of business rates for the sector ahead of the Labour party’s first Budget at the end of the month. In an open letter to the chancellor, the CEOs of Britain’s most well-known and biggest pub groups such as Fuller’s,…
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18 OctoberNews
Over 1,200 pubs will likely shut down this year, CAMRA says
Over 1,200 pubs will likely be shuttered this year, compared to around 1000 in 2023, and just over 800 in 2022, new data from CAMRA has revealed. Figures released today by the Campaign show the “alarming” rate of licensee turnover in the pub trade as the crushing weight of unfair…
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16 OctoberNews-In-Brief
Today’s news in brief – 16/10/24
Hospitality business rates will likely hit £914m, UKH has warned, as September’s CPI inflation data will cause an additional £48m increase to business rates. As a result of this, the trade body is calling on the chancellor to introduce a lower, permanent and universal multiplier for hospitality. Just Eat orders…
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