The Autumn Statement 2016
Following the release of the Autumn Statement yesterday, we wanted to provide a summary on how this may affect the Hospitality Industry in particular.
– Increase in Living Wage to £7.50
– Personal Tax allowance to increase to £11,500
– National Insurance to be equalised to £157 per week
– No planned increase in Business rates
– By 2020 Corporation tax to be down to 17%
– No planned change to Tourism VAT
– £1.6bn for English regions from the Local Growth Fund
– £1bn investment into full-fibre broadband and 5G with business relief on new infrastructure.
– Beer duty to remain at 52.2p