UKH commends launch of business rates inquiry
01 February 2019
Posted by: Chris Banks
UKHospitality has greeted the launch of a new inquiry into the impact of business rates.
The Treasury Committee has launched an inquiry scrutinising how Business Rates policy has changed, including Business Rates retention, alternatives to property-based taxes, such as the proposed digital services tax, and how changes to Business Rates could impact businesses.
UKHospitality Chief Executive Kate Nicholls said: “A thorough examination of the effects of business rates has been a long time coming. The system is now completely out of date, doesn’t reflect the realities of business in the 21st Century and disproportionately cripples hospitality.
“This is a positive sign that business rates are still very much on Parliament’s agenda, despite the Brexit distraction, and rightly so. Only a complete overhaul of the system – as promised in the Conservative Manifesto – will ensure high street businesses, and hospitality employers in particular, are finally going to be taxed fairly.”
Notes to editors
- UKHospitality is the new trade body representing the UK’s hospitality sector, established following a merger approved in February 2018 between the Association of Licensed Multiple Retailers (ALMR) and the British Hospitality Association (BHA)
- UKHospitality is the authoritative voice for over 700 companies, operating around 65,000 venues in a sector that employs 3.2 million people
- The body speaks on behalf of a wide range of leisure and ‘out-of-home’ businesses, from FTSE 100 enterprises to niche groups and independent single-site operators
- For the first time, the sector has a single voice bringing together businesses from all aspects of hospitality; coffee shops, hotels, serviced apartments, pubs, restaurants, leisure parks, nightclubs, contract caterers, entertainment, stadia and visitor attractions
- Engaging with government, the media and the public, UKHospitality works to develop a robust case on how to unlock the industry’s full potential as the biggest engine for growth in the economy and ensure that the industry’s needs are effectively represented
- The sector creates £130bn in economic activity and generates £38bn of tax for the Exchequer, funding vital services
- Hospitality represents 10% of UK employment, 6% of businesses and 5% of GDP
- Hospitality is the 3rd largest private sector employer in the UK; double the size of financial services and bigger than automotive, pharmaceuticals and aerospace combined
- Member benefits include free advice and expert guidance on regulation, finance and health and safety as well as savings on services from carefully selected business partners.