Audit, tax and business advisory firm Blick Rothenberg has called on the government to provide financial support to the UK’s hospitality and retail sector to help businesses survive higher running costs.
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The trade has expressed its disappointment that no relief for businesses will be forthcoming via Rachel Reeves’ Spring Statement, as the industry continues to face a roster of tax hikes from the last Autumn Budget.
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New figures from HM Revenue and Customs reveal the Treasury has lost close to £300m in tax revenue from Scotch whisky and other spirits following Jeremy Hunt’s significant tax increase last August.
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