Potential New Universal UK Park

[GooseOnTheLoose]

Hidden in today's budget is this little tidbit, which could possibly apply to theme parks (absolutely no detail released yet, so put the lotion away).

From 2026-27 permanently lower tax rates will be introduced for retail, hospitality & leisure (RHL) properties.

From: https://x.com/hmtreasury/status/1851613430374875407


Until the actual budget is published, and actual figures, we have no idea what the cut is or who will be entitled to it. It could be a cut to business rates, it could be a cut to VAT.

 

[Blackrock]

Hidden in today's budget is this little tidbit, which could possibly apply to theme parks (absolutely no detail released yet, so put the lotion away).


From: https://x.com/hmtreasury/status/1851613430374875407


Until the actual budget is published, and actual figures, we have no idea what the cut is or who will be entitled to it. It could be a cut to business rates, it could be a cut to VAT.

It’s business rates. She mentioned it in the speech.

 

[Matt.GC]

Hidden in today's budget is this little tidbit, which could possibly apply to theme parks (absolutely no detail released yet, so put the lotion away).


From: https://x.com/hmtreasury/status/1851613430374875407


Until the actual budget is published, and actual figures, we have no idea what the cut is or who will be entitled to it. It could be a cut to business rates, it could be a cut to VAT.

Veering off topic (further discussion for the UK politics thread) but this is excellent if true.

If I'm being honest, when I saw the employers NI and living wage increases (not saying either are bad perse) I immediately thought of leisure and retail. I've honestly been worried about my own job! I've seen the numbers and did a quick crunch (I'm at work now doing just that) and I know the shop I run, and many others, are barely breaking even. And yes, I am talking about those big evil supermarkets that get accused of "raking in billions".

They all have different strategies, but for my last employer, they told us once that they were carrying 11% of the store estate that was loss making. There's been lobbying for years about levelling the playing field between bricks and mortar, and digital operators. It's astonishing that it's taken this long.

A fair tax regime is needed for entertainment and hospitality. This could be part of the negotiations with Comcast to attract the investment.

 

[Relife]

Retail and hospitality relief won't apply to larger businesses as they are above the threshold to qualify anyway so it's kind of irrelevant for the likes of Universal or Merlin.

The lower tax rates is the real incentive here but you have to wonder how much National Insurance contributions will cancel out any benefit for the sector.

 

[Blackrock]

The Employer National Insurance rise is a tax on working people no matter how they try and spin it.

It’ll be a huge additional cost for any business.