Happy hour: Government slashes business rates for smaller pubs
Sajid Javid has announced plans to cut £1,000 in business rates for smaller pubs from April.
The chancellor said as many as 18,000 pubs across the UK could benefit in new cuts aimed at supporting pubs in local communities.
The tax relief comes following calls for the burden of business rates to be reduced on sites facing other heavy cost increases.
Javid said: “Thousands of pubs will get £1,000 off their rates bills this April, thanks to the changes we’re announcing today.”
Pubs with a rateable value below £100,000 will be eligible for the rate reduction, while those with a rateable value below £51,000 will receive that cut on top of the one-third reduction they already receive.
In the next financial year, which starts in April, all pubs, restaurants, shops, music venues and cinemas with a rateable value below that figure will have there discount increase to 50 per cent for the year.
Javid said pubs eligible for both the new £1,000 pubs relief and 50 per cent retail discount could see up to £13,500 taken off their bills.
Community pubs minister Luke Hall said: “Pubs are front and centre of communities around the country, the key to thousands of jobs and providing a meeting point for local residents to get together and enjoy a pint.
“Today’s business rates cut continues our firm commitment to support pub owners, helping to keep the pints pouring and the locals happy.”