Pubs are closing at their fastest rate since last summer after April’s tax raid, according to new figures.
The number of pubs that declared insolvency jumped to 67 in April, the highest number since last July when 75 pubs went bust, according to accountancy firm Price Bailey.
Read the full article on the This is Money website
NAM Implications:
- Pubs that declared insolvency hit 67 in April…
- …the highest number since last July (75 pubs went bust).
- Cause: April kick-in of National Insurance Contributions (NICs) and National Living Wage increases.
- ‘That the impact has been so immediate shows that many pubs had already exhausted their financial buffers’.
- Any reversal ofthe above taxes is unlikely, given the two major U-turns recently…
