Chancellor commits to commercial tariffs and energy support, but hospitality remains fearful for the future

Hospitality trade bodies welcomed the announcements, but the industry’s general reaction to the statement – which also included confirmation that VAT will be frozen at 20% until 2026, despite intense industry pressure to reduced – has been lukewarm at best. , with a lack of targeted support leaving many operators worried about the future. UKHospitality … Read more

Not freezing rates will leave businesses on the brink, business leaders warn

B Business leaders made a final plea to Chancellor Jeremy Hunt to freeze corporate rates in this week’s autumn statement, saying a 10% hike next year could leave many businesses on the brink the collapse. As Mr Hunt assesses a series of tax hikes and spending cuts on Thursday to fill a £55billion black hole … Read more

High Street braces for £3billion business rate bill hike

Retailers will have to pay an additional £3billion next year in business rates, which will put further pressure on the high street as costs soar and shoppers cut spending. Corporate rates, which are a tax on business property, are expected to rise in line with inflation, which hit 10.1pc in September. This means the overall … Read more

Firms face £2.7tn interest rate hike from April due to inflation

H Street businesses across England face a £2.7billion tax hike next year after inflation rises further. Business rates, property tax on all businesses including shops, pubs and hotels are set to rise in April based on inflation recorded last month. On Wednesday morning, the Office for National Statistics (ONS) revealed that consumer price index (CPI) … Read more