Pubs hit by 'quadruple whammy' as costs and taxes rise on same day
- Credit: PA
Suffolk pubs have been hit by a "quadruple whammy" as energy prices rise and the final Covid support measures end on the same day.
During the pandemic VAT on pub meals and soft drinks was cut to 5% to help support the hospitality industry. It rose to 12.5% in October and back up to its usual level of 20% on April 1.
Hospitality firms will also have to pay more business rates after the tax was similarly cut during the pandemic.
Nick Attfield, director of properties at Adnams, said: "It's a quadruple whammy.
"We've got business rates, VAT back to 20% and some new legislation for businesses with over 250 employees – we now have to put calories onto our menus for the first time.
"And then obviously the scary rises in energy costs that are affecting our suppliers and customers as well.
"If you like we are returning to our pre-pandemic business model. As a hospitality business, we do have to be grateful for the fact that we have had tax cuts, to help us recover from Covid.
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"We've always had to remember that the holidays weren't forever – we've been planning for this for months."