Philip Hammond
Covers political and economic developments involving the former UK Chancellor, with a focus on policies and decisions affecting the hospitality and foodservice sectors. Coverage includes fiscal measures, taxation changes, business support initiatives, and economic forecasts, alongside analysis of how his actions and positions have influenced operators, investors, and market conditions within the industry.
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Apr- 2020 -22 AprilBusiness Bites
Will there be coronavirus help for small company directors who are paid by dividend?
The financial plight of limited company directors has been raised by the Tory chairman of the Treasury select committee. Mel Stride, a former Treasury minister, said chancellor Rishi Sunak needs to view company directors as a tranche of people who have ‘slipped through the net’ of all the other largesse…
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Apr- 2019 -1 AprilBusiness
Shops, pubs and restaurants to get £500m tax reprieve
Small firms on England’s embattled high streets are set to share in half a billion pounds worth of tax cuts as business rates bills are slashed, real estate adviser Altus Group has said. The government announced a business rates discount scheme for small sized high street properties in England which…
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Mar- 2019 -21 MarchBusiness
Businesses left waiting for rates discounts as deadline approaches
Businesses in England were promised millions of pounds in support by the chancellor last October but, less than two weeks before the start of the new tax year on 1 April, many are still either waiting for discounts worth up to £8,000 or haven’t yet applied. The government announced a…
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Oct- 2018 -29 OctoberBusiness
Autumn Budget 2018: Business rates cut for SMEs and new digital services tax
Chancellor Philip Hammond has confirmed plans to give smaller retailers a 33% cut to business rates and introduced a new digital services tax for companies with at least £500m in global revenue. The reduction in rates will take place over the next two years and is expected to save businesses…
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11 OctoberBeverages
Wine and spirit sales in UK pubs reach almost £6bn
New research has found that wine and spirit sales in UK pubs has reached almost £6bn with the beverages making up 36% of all Uk pub sales. The research by CGA Strategy on the behalf of the Wine and Spirit Trade association also found that spirits and wine made up…
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11 OctoberOpinion
Apprenticeships reform: Good news for SMEs
“For the past 18 months the Apprenticeship Levy has been firmly in the spotlight. While larger business with a pay bill over £3m now pay monthly into their levy pots, SMEs have been hit by new requirements to pay a 10% contribution to their apprenticeships, where previously they received the…
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Aug- 2018 -17 AugustBusiness
Business rates for English hospitality firms could rise to £50m, analysts say
Business rates for English hospitality companies could increase to £51.26m next April if inflation remains unchanged at 2.5%, according to real estate advisor Altus Group. Altus Group said next month could be “pivotal for the hospitality sector” as the upcoming Consumer Prices Index (CPI) measure of inflation determines how business…
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Jul- 2018 -9 JulyGovernment
UK Treasury rejects business rates reform calls
The UK Treasury has today rejected calls from retailers and restaurants who say business rates should be reformed to create a level playing field with online retailers. During a meeting of parliament’s Treasury Select Committee, chancellor Philip Hammond said reforming international corporation tax was a higher priority for the government,…
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