Business rates reform incoming for the hospitality sector

This morning the Treasury announced that it intends to set lower multipliers for pub business rates in the upcoming Autumn Budget.

This news will be a welcome relief to pub operators who have been hit with constant bad news since the pandemic, and hopefully this announcement will go some way towards helping the nation’s beloved pub industry.

Jonathan Reynolds, the business secretary, told the Sun on Sunday that the current tax burden on pubs is disproportionate and needs to be lowered. The Government’s plan is to introduce a permanently lower multiplier for retail, hospitality and leisure (RHL) premises, which will take into account property valuations and economic and fiscal contexts.

The Government plan to publish an interim report in the coming weeks prior to the Autumn budget to outline their full proposal, and to deliver on their manifesto pledge to provide support and protection for the hospitality sector.

Graeme Cushion, managing partner at Poppleston Allen, said “This would certainly be a significant and positive boost for the Licensed Industry at a time when it is facing cost headwinds too numerous to list. Let’s hope the promise is delivered upon.”