Here is what Philip Hammond announced in his one and only Spring Budget as it affects our industry

Rateable Values

£1k Discount for pubs with a rateable value of less than £100k.

Rate rises for businesses losing existing relief are to be capped to £50 per month.

As Mike Clist CBII of the BII says in his blog it is not clear if this is a one off relief.

Alcohol Duty

Beer, cider, wine & spirits will increase in line with RPI inflation, this equates to approx. 2p on a pint of beer, 1p on a pint of cider, 36p  on a bottle whisky and 32p on a bottle of gin.

Tobacco will rise by 2% over the RPI Inflation. This will be about 35p per packet of cigarettes.

Remember that these are duty rises, you need to add VAT and your margin to these figures.

National Insurance

Class 4 N.I. contributions for the self-employed to be increased from 9% to 10% in April 2018 and to 11%in April 2019.  These increase apply to profits above £8060 per year and below £43k. The upper rate will remain at 2%.

Class 2 contributions will be scrapped as planned in April 2018.

There are no changes to N.I for employers or employees.

Personal Tax Allowance

This will rise as previously announced to £11500 this year.

Dividends

The tax free dividend allowance for shareholders and directors small private firms is to reduce from £5K to £2K.