VAT rise likely to hurt hospitality recovery and may cause more permanent closures September 30, 2021 The upcoming 7.5 per cent VAT rise will slow down Covid recovery for the hospitality sector and may lead to a number of additional closures, a SME tax expert told City A.M. today. The Government’s scaling back of its Covid support measure is coming too soon for businesses with little or no cash reserves, according [...]
Fast-growing Racingbreaks.com secures £1.3m new investment June 16, 2022 Racingbreaks.com, Europe’s largest horseracing travel business, has enjoyed an excellent start to 2022 offering worldwide racing packages and has recently secured an additional £1.3 million in investment for future growth. The online platform organises all elements of a day’s racing to ensure a stress-free and enjoyable experience for racegoers and over 5,000 travel-related packages were [...]
London’s hotel mojo is back as occupancy rates climb albeit pandemic recovery remains ‘uphill battle’ June 29, 2022 Recovering occupancy rates and food and beverage sales are rapidly powering a recovery in the London hotel market, albeit slower than the industry had anticipated. For the first time since prior to the pandemic, occupancy rates in London are now exceeding the rest of the UK, at 66.9 per cent, overtaking UK rates of 68.4 [...]
No more reason to wine: Government cuts Brexit red tape on wine imports December 16, 2021 The government has today confirmed it will cut the Brexit red tape that costs wine importers coming into the UK some £130m a year. The new legislation will come into effect at the beginning of next year and will ease trading between the UK and the European Union – which accounts for half of the [...]
UK Holiday Property Investment September 27, 2022 7% fixed NET return1 The UK holiday industry has shown signs of a strong recovery from the disruptions posed by the global pandemic. Research by the World Travel & Tourism Council (WTTC) forecast that the UK’s travel and tourism sector’s contribution to the economy could rise to £192 billion in 2022. The British public have [...]
Insulating homes could cut gas imports more than North Sea drilling, says green body November 14, 2022 Insulating the UK's entire housing stock could reduce gas demand by 20 per cent according to new research from the ECIU.
Staycations could inject over £9bn into economy September 30, 2021 A continued demand for staycations could see more than £9bn injected into the UK’s tourism economy. Barclays estimated that, should a preference for UK holidays continue at the same rate in 2022, it would add up to £9.2bn to the domestic tourism market. While many Brits will be eager to swap Cornwall for Portugal next [...]
Sterling falls to six-month low as UK tightens virus measures March 17, 2020 Sterling dropped to its lowest level against the dollar in roughly six months today as the UK ramped up its measures to halt the spread of coronavirus. The pound fell as much as 0.6 per cent to $1.219 this morning — its lowest level since early September. Against the euro it edged up 0.2 per [...]
Top industry brass press Sunak on business rates overhaul October 14, 2021 The UK’s top business groups who represent over 9m workers are pressing Chancellor Rishi Sunak to overhaul the business rates regime. The Confederation of British Industry (CBI), alongside 41 trade associations acting on behalf of 261,000 businesses, have called on Sunak to reduce the burden of business rates on firms at this month’s budget to [...]
Russian billionaires out, US billionaires in: Mapping London’s super-prime property market May 17, 2024 Filings have shown a Kazakh billionaire has sold his Mayfair mansion for £35m. What does it say about London's super-prime property market?