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All Tax articles – Page 6
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NewsTourist tax will cost British consumers £518m
A new visitor levy will allow mayors to impose a “modest” charge on overnight stays to invest in transport and infrastructure – but UKH said the “damaging” tax will be passed on to domestic tourists and fuel inflation
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NewsNational living wage rises to cost sector £1.4bn
Combined with a higher-than-expected 8.5% uplift in the wage rate for 18-20-year-olds, UKHospitality said the increases represent a total £1.4bn in additional cost for businesses
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NewsNTIA: ‘Brits still want to go out’
Data from the Night Time Industries Association shows that more than three quarters of UK consumers believe they are being priced out of the night-time economy due to rising costs
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Analysis & InsightLeader confidence at five year low
The soaring cost of doing business and pressure on consumer spending mean just just 26% of hospitality leaders feel optimistic for the next 12 months
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Weekend PressBusinesses braced for Budget tax bloodbath
As business brace for a battering in this week’s budget, Emma McClarkin at the British Beer and Pub Association has warned a repeat of last year’s tax-raising would ‘bury’ the hospitality sector, the Daily Mail reports
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OpinionDownbeat assessment of a government ‘that’s throttling us’
Describing the restaurant trade as simply “not great fun” right now, senior leaders spoke of a deterioration in trade which in some dayparts bordered on “catastrophic”
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NewsCreams: ‘Milkshake tax is disappointing but, unfortunately, not surprising’
Amid rumours the Chancellor will announce a ‘milkshake tax’ in the budget, the dessert café brand has warned continued policy-driven cost increases will impact prices and harm high street investment
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NewsBrewDog calls for ‘meaningful action’ to support sector in pre-budget warning
The bar operator and brewer has calculated businesses must sell an extra 950,000 pints every hour to recoup cost surges from energy bills, labour costs and tax hikes
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NewsKERB launches campaign to support independents
KERB’s Seven Dials Market in Covent Garden will offer meals priced at the amount that each trader takes home as profit to spotlight the pressure on operators’ margins
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NewsHospitality insolvencies flat ahead of budget
A further 265 accommodation and food service businesses collapsed in September this year, with RSM UK warning the future of many more will be dependent on the upcoming budget
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NewsRising taxes hit Anglian Country Inns’s bottom line
The group has reported an 8.4% sales rise in its latest financial results, but operating profit fell by around a quarter amid a ‘continual and disproportionately high tax regime’
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NewsThwaites toasts ‘strong performance’ in half-year results
The family brewer and regional pub operator says it has delivered ‘an excellent set of results given the circumstances’ with turnover and profit both up
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NewsLib Dems call for hospitality VAT cut at budget
The party has called for VAT on the sector to be cut to 15%, saying too many people have been ‘priced out’ of ‘small joys’ like a restaurant meal
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NewsThe Coconut Tree appoints administrators
The Sri Lankan restaurant group is facing insolvency proceedings having defaulted on its company voluntary arrangement earlier this year
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NewsFuller’s sees ‘continuing momentum’ as revenue rises
The pub company says it has ‘outperformed the market’ in its half-year results with like for like sales growth of 4.6%, and a 28% increase in adjusted profit before tax
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Analysis & InsightDiscretionary spending flat as consumers cut back pre-budget
While overall consumer card spending fell 0.8% year-on-year in October, hospitality and leisure saw modest growth led by rises in entertainment and travel sales
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NewsOver 300 businesses sign letter demanding support in budget
Major hospitality businesses including Big Table Group, Greene King, KFC, Loungers, Stonegate and Wagamama are among the signatories to UKHospitality’s open letter to the Chancellor
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NewsBrighton Pier up for sale as revenue drops
Brighton Pier Group said it is ’actively exploring opportunities for the potential sale of some or all of its remaining assets’ as a result of the the impact of last year’s budget
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NewsRick Stein: ‘Putting national insurance up just stopped growth’
The chef and restauranteur has told The Standard he would like to see a moratorium on VAT in this month’s budget
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Analysis & InsightInside Pizza Hut Restaurants' complex web of debt
The operator called in administrators after a declining trading performance and negative like-for-likes driven by competition from quick-service restaurant operators and delivery aggregators