Raffingers Hospitality Newsletter | Autumn Edition

In the Headlines Hospitality Newsletter, Autumn 2016

Pubs Code to Increase Transparency for Sector

Looking to Raise Capital?

Employing Illegal Staff WILL Cost you Thousands

What benefit will the introduction of the Pubs Code pose for those renting or leasing pubs?

Raising finance for any business, is becoming even more challenging, but necessary for the advancement of even the greatest ideas to develop.

The hospitality sector has a higher turnover and employment rate than any other industry, also making it the most attractive to illegal immigrants.

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Contents

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Welcome and Partners

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Special Feature Pubs Code to Increase Transparency for Sector

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Raffingers Join British Hospitality Association

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Raffingers Foundation Fundraising

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Raffingers Events

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Employee Spotlight

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Looking to Raise Capital?

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Enterprise Management Incentives (EMIs)

10

Salary Sacrifice Benefits Soon to be Limited

12

Employing Illegal Staff WILL Cost you Thousands

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Partners Perspective Licensing Act and Late Night Levies: How alcohol is costing your business

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Welcome to our AUTUMN Newsletter With autumn in full effect, this quarter we bring to you all of the latest insights and news hitting the hospitality sector.

Several legislative changes have come into force in the last three months, which means that many businesses in the hospitality sector will need to make a few changes to ensure that they are complying with the law. With this in mind, we discuss the changes to the Pubs code and how the Licensing Act and Late Night Levies are impacting thousands of businesses throughout the sector.

Raffingers Partners Gary Inglis Managing Partner gary@raffingers.co.uk

Andrew Coney Partner andrew@raffingers.co.uk

We also shed light on the new Immigration Act 2016 and the harsher custodial and criminal sanctions that will affect both the employer and employee. This can be found in our article; Employing Illegal Staff WILL Cost you Thousands, on page 13.

Lee Manning Partner lee@raffingers.co.uk

We are pleased to announce that we are now a member of the British Hospitality Association, the leading network servicing the hospitality sector. We look forward to working with the association in the coming year. Furthermore, we are glad to have been shortlisted for ‘Medium Practice of the Year’ at the Practice Excellence Awards 2016, as well as have our very own Partner, Lee Manning, shortlisted for practitioner of the Year.

Adam Moody Partner adam@raffingers.co.uk

As always, if you would like to be featured in our next edition, or have any suggestions for topics that you would like to see discussed, please get in touch.

The Partners at Raffingers

Suda Ratnam Partner suda@raffingers.co.uk

Barry Soraff Partner barry@raffingers.co.uk

Paul Dell Partner paul@raffingers.co.uk

Raffingers Foundation Fundraising - Page 6

Pubs Code to Increase Transparency for Sector SPECIAL FEATURE

It has been a month since the UK Government introduced the Pubs Code 2016, a new legislative measure aimed at increasing the protection and rights for tenants of larger pub companies. But what exactly does the new action entail and what benefit will it pose for those renting or leasing pubs?

On the 21 July 2016, the much anticipated Pubs Code regulation was introduced by the government as a means of providing transparency and fairness for tied

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pub tenants. The main aim of the code is to provide: • Fair and lawful dealings by pub owning businesses in relation to their tenants • Tied pub tenants the freedom to be no worse off than if they were not subject to any ties Consequently, the Market Rent Option (MRO) will now be extended to tenants of pubs. The breaking of the tie means that the lessee will no longer have to comply with the 400 year old legislation, which says

that tenants must buy supplies from their landlord.

The MRO allows for tenants, upon request, to relieve themselves from their current contract, therefore severing ties with their landlord. This means that they now have the ability to remove their landlord in their purchasing, services and pub property decisions if necessary.

Ultimately the biggest advantage presented to tenants is the financial aspect. The MRO allows for tenants to ultimately save more money in the long run. However, the true benefits of the act will only be transparent in due time.

The Pubs Code regulation was introduced by the government to increase transparency and fairness for tied pub tenants.

Is the MRO mandatory?

Only brewers or pub owners owning 500 plus pubs will have to comply with offering their tenants or leasees the MRO option. It is important to remember that the regulation does not work in retrospect. This means even if you have only recently renewed your contract with your landlord, you will not be able to invalidate it; only in special circumstances will this be reconsidered.

Association of Licensed Multiple Retailers (ALMR) chief executive Kate Nicholls stated: “It is important for the sector to push forward and ensure that work with the adjudicator runs as smoothly as possible and that the office of the adjudicator hits the ground running to ensure compliance.”

Inez Ward of Justice for Licensees said: “We are hopeful that, finally, we will see a much fairer and just balance in the relationships between pubco and tenant. The pubcos must learn that the bad practice that we have been unfortunate enough to witness will not be tolerated, this is a new dawn.”

Ultimately, it is important to weigh up the options available to you before you decide to make any sudden moves. Reviewing your current agreement with your landlord ahead of time is imperative. Although the MRO allows for greater freedoms, moving away from your current agreement may work out more expensive and could cause more difficulty. Ensure that you seek professional advice and carry out a range of financial scenarios before you decide to move forward.

For further advice: Paul Dell 020 8418 2688 paul@raffingers.co.uk

Raffingers Join British Hospitality Association We are pleased to announce that we have recently joined the British Hospitality Association, the UK’s largest member organisation for the hospitality and tourism sector.

The British Hospitality Association represents over 40,000 businesses and individuals in the UK within the hospitality and tourism sector, including restaurants, hotels and bars. The association acts as a voice for individuals and businesses in the sector whilst shaping the future of the industry by driving competitiveness, growth and job creation.

Raffingers has provided specialist advice for the hospitality sector for several years, including startup advice and guidance on implementing and maintaining software, which puts owners back in control of their business. Now, with the Brexit and National Living Wage significantly impacting the sector, the firm look to work with the association to help facilitate change and provide knowledge to business owners in the industry.

Lee Manning, Partner at Raffingers stated; “Over the last 12 months, we have worked closely with business owners in the hospitality sector, supporting them with their planning and forecasting, as well as guiding them on ways to improve the efficiency of their business whilst remaining compliant with legislation. Being part of the British Hospitality Association, the UK’s most trusted voice for the sector, is a great way for us to provide invaluable information to the industry whilst gaining vital knowledge and insights so we can better do our part in facilitating change”.

The team at Raffingers are proud to be a recognised member of the British Hospitality Association and look forward to the opportunities that joining the network will bring.

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Raffingers Foundation Fundraising

£3,299 Raised so far

Raffingers Foundation was formed in 2016, in memory of Jason Kew, a dear husband and friend, who sadly lost his life to pancreatic cancer, as well as to honour those family members of the firm who have been lost to ovarian cancer.

We are pleased to announce that through everyone’s support we have already raised over £3,000, all of which will be split equally between Pancreatic Cancer Research Fund and Ovarian Cancer Action. Thank you for your support.

www.raffingers.co.uk/community

Superhero Day We know our team are already superheroes, but on Friday 22 July 2016 they donned their best superhero outfits to help raise a total of £240.

Raffingers Foundation Charity Ball 2017 Event Details In 2017 Raffingers Foundation will be hosting its very first Charity Ball. This exclusive and exciting event is a great opportunity for you to bring together your friends, family, work colleagues and clients for a fantastic evening for a fantastic cause. You can expect: • • • • •

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A superb three course dinner and wine Live Music Magician Silent Auction Raffle (which has concert tickets, iPads and restaurant vouchers up for grabs)

www.raffingers.co.uk

Date: Saturday 16 September 2017 Location:

Marriott Hotel, Old Shire Ln, Waltham Abbey EN9 3LX Dress Code: Black Tie Tickets: Tickets are £75 per person, or, tables of 10 are available for £600. To book your tickets contact danniella@ raffingers.co.uk.

Raffingers Events Cloud Drop-in

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October

25

November

Annual Tax Update

Where: Raffingers Head Office, 19-20 Bourne Court, Southend Road, Essex, IG8 8HD When: 2pm-6pm Drop in to our offices to receive free, one-to-one support on your cloud accounting software.

Our Cloud Drop-ins take place on the last Friday of every month, between 2pm-6pm, and give you the opportunity to receive free advice and support on your cloud accounting software.

2017 March

Where: Prince Regent, Manor Rd, Chigwell, London IG8 8AE When: 9am (8:30am arrival) Following the 2017 Budget, join us for breakfast to discuss the latest changes and what you can do to mitigate your tax liability following the update.

As always, we will delve into pensions, dividends and all things tax, helping to ensure your affairs are up-to-date and you are in the best possible position.

as a Marine Transporter and Shipping Executive. It was an amazing experience, but I later decided to pursue a career in Accountancy and Finance.

Employee Employee Spotlight Spotlight In this slot we introduce you to a valued member of our team, allowing you to put a face to a name.

This quarter we speak to our Accounts and Audit Senior, Ansa Archibong.

Name: Ansa Archibong Email: ansa@raffingers.co.uk Career: Accountancy is my second career after a graceful period working within the shipping industry and being part of the family business.

After graduating from the Maritime Academy of Nigeria, the obvious choice was to work within the Maritime Sector where I got involved in cost accounting

In the UK, I graduated from the University of West London, with a 2.1 in Accountancy and Finance.

After several years of experience with many different entities, including KPMG, PK Group Partners, Richmond Gatehouse LLP and a few others, I gained ACCA Membership and obtained my General Practising Certificate in early 2016.

I joined Raffingers in April 2016 as an Audit Senior, to broaden my audit experience, which I am very keen to become an expert in.

Interests: I am an avid fisherman, extremely passionate motor biker and enjoy boxing, as well as martial arts.

My other passion is travelling and seeing remarkable parts of the world as this gives me a much better appreciation of the universe. You only live once!

Partners Report: Since joining in April, Ansa has hit the ground running. Not only is Ansa instrumental in our audit process, but through his drive and his eagerness to learn, he has already contributed significantly to our IT and marketing departments.

Just this month, Ansa has been the driving force behind our training videos, which will be released shortly. Watch this space.

Your Business Our Passion

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Looking to Raise Capital?

Blog by Roy Butcher, Associate Partner Financing has become a competitive business with the investors and institutions that own or manage these funds having an obligation to be more responsible. Consequently, raising finance for any business, particularly SMEs, is becoming even more challenging, but necessary for the advancement of even the greatest ideas to develop and grow.

Clearly these challenges to raise the necessary capital are not all external; the entrepreneurs are not without responsibility in their lack of funds. Typically, some SMEs have, over time, displayed poor management as well as a poor maintenance culture of their current facilities. This has hampered their ability to raise and retain finance. So, what are your options when considering raising finance?

High Street Banks. These are the primary source of funding for start-ups’ financing debt. In recent years there has been a perception that banks do not lend any more, which has led to the introduction of alternative sources of finance. However, banks are certainly open for business, with sufficient area funding and bespoke solutions available for SMEs who have sound business ideas, direction and strong support teams.

Asset Finance. Hire/Lease Financing allows equipment to be purchased without the need for a large capital outlay from a limited cash resource. This provides flexibility to utilise cash resources efficiently to fund the current business operations or to ensure sufficient working capital exists to take on further contracts. However, this is unlikely to be an option for most start-ups looking at raising finance, but one to be considered further down the line.

Invoice Finance. Invoice financing enables the release of funds currently tied up in outstanding customer invoices, ideal for providing a cash flow injection for working capital management. This area of lending has become much more competitive, creating a much more affordable and flexible way of financing for your business, with agreements normally built around a 30 day rolling contract. The main types are: factoring, discounting and spot discounting.

Crowd Funding and P2P Lending. Generally online platform based lending, enables many small lenders to pool their cash investments together, giving enterprises an alternative pool of finance to banks.

These funding pools will still set out to match their own risk criteria with that of the business seeking funds, and ultimately the returns required on those funds invested.

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The Business Angels. Very diverse in the UK, this type of funding reflects a range of models and approaches, such as angel networks, small groups and syndicates, and is ideal for business owners looking for more than a funding solution, but also for strategic support and contacts.

Venture Capitalists and Private Equity. Essentially capital finance provided in return for an equity stake in potentially high growth companies.

Business Grants. This is a highly overlooked source of funding and broadly fits into one of three categories: • Government grants • European grants • Local grants Each scheme has its own set of criteria to determine whether a business can be considered for this type of investment.

Friends and Family. The cheapest form of finance, but with potential problems which may affect longterm relationships.

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Other Methods. Commercial mortgages, mezzanine finance and, that all important, working capital management.

If you are looking at raising finance it is important to be aware that a poor credit score, a lack of personal guarantees and a poor financial management history, are serious barriers for business owners looking to secure funding. Furthermore, the business model or indeed the individual may be deemed a high risk due to a lack of trading history or sufficient asset base.

A high proportion of applications are turned down by banks, but mainly due to a lack of clear direction by the business owners or even a poorly assessed management support network. Understanding the requirements of lenders and being open to the range of finance options will enable SMEs and start-ups’ to overcome these financial hurdles.

Because of the Economic downturn globally in 2008, lenders have had to become more responsible, thorough and forensic, and will now conduct their full due diligence. Alternative lending providers are competing with traditional mainstream bank lending

facilities and offer much wider assessment criteria and measures.

How to assess your own viability The business idea and plan. Investors and loan providers will want to review the business idea and plans, and assess the likelihood of profitability and return. A continually updated business plan is therefore essential.

Matching a lender to your own funding requirements. What financial option best matches the needs of your business. Some funding organisations and investors favour specific business models, so do your research to see if a funder has a history of investing in a particular sector. Also are you willing to dilute your own equity and control?

Is the entrepreneur ready? People buy from people. Following the global recession, ensuring you can provide the business confidence, passion and the vision is all the more essential. Research your funding sources to ensure it is the best solution for you and the stage your business is at.

For further information: Roy Butcher 020 8418 2673 roy@raffingers.co.uk

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Enterprise Management Incentives Employers can help attract and retain employees by rewarding selected employees with a tax favoured scheme - an Enterprise Management Incentive (EMI). This scheme is mainly targeted at small trading companies.

An EMI scheme gives employees the option to purchase shares within the company. The employees would usually buy shares at the market value on options that are first offered (grant) and therefore, giving the opportunity for the employee to profit from any growth in the company. The option must be exercised within ten years in order to receive tax advantages.

It is important to note that there are a number of conditions that need to be met and that the scheme must first be registered and approved by HM Revenue and Customs (HMRC).

Conditions 1. The company must carry out a qualifying trade 2. Excluded trades include: • Financial

5. The company can be either listed or unlisted 6. The company has < 250 employees (working at least 25 hours per week) 7. An individual cannot have a material interest in company (> 30% share capital) 8. Maximum value of shares held by an employee within either a CSOP or EMI < £250,000 Any doubt on whether the conditions might not be met, can be dealt with by obtaining a tax clearance from HMRC.

Tax Implications No PAYE/ NIC when shares are granted.

If shares are exercised after ten years from grant of option PAYE will be operated on the market value at date of exercise less cost of shares to employee. Class 1 NIC will only be payable if the shares are readily convertible assets (usually listed shares or unlisted shares if a buyer is in place).

If shares are exercised within ten years from grant of option No PAYE/ NIC payable provided that the option shares were not sold at a discount.

If the shares had been discounted, PAYE will be operated on the lower market value at date of exercise or date of grant, less the cost of the shares.

When shares are sold Capital Gains Tax will be payable on disposal of the shares. Income tax paid on exercise (if any) will be an allowable deduction.

• Legal • Farming • Property development 3. Company total gross assets are < £30 million

Entrepreneurs’ relief (a reduced rate of Capital Gains Tax)

4. Total value of shares are < £3 million

Available if the following conditions are met:

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If you would like more information on EMI schemes, please contact: Andrew Coney 020 8418 2710 andrew@raffingers.co.uk

discount.

An EMI scheme gives employees the option to purchase shares without paying Income Tax or NI. 1. Shares have been held for at least one year starting from the date of exercise 2. The shares are in a trading company 3. Individual owned at least 5% of ordinary and voting shares; and 4. Individual was an officer or employee of the company There are different rules that apply if shares were exercised on or after 6 April 2013 and were exercised within ten years.

Tax Charges from disqualifying events The below will mean that a company no longer qualifies for EMI: 1. A loss of independence 2. Company no requirements

longer

meets

the

trading

3. Employee no longer works for the company 4. Employee no longer works the required hours 5. Employee has exceeded the share value limit (£250,000)

If the shares are exercised within 90 days from the disqualifying event No tax is charged if this is within the 10 year period from date of grant and the shares were not sold at a

If the shares are exercised after 90 days from the disqualifying event PAYE/ NIC will apply on the increased value between date exercised and disqualifying event.

Company checklist 1. Check the articles of association: • ensure that the operation of the EMI scheme is permitted • can new classes of shares be issued • whether shares can be restricted for rights to dividends • needs to be passed by a special resolution (a 75% majority) • record details in the minutes • filed to Companies House within 15 days of amendments taking effect 2. Carry out a company valuation to ensure that the exercise price is of a true value 3. Valuation will need to be approved by HMRC by completing a VAL231 form 4. Once agreed, employees will need to be provided with an ‘option agreement’, approved by the board. Important to take minutes at this point as well.

5. Notify HMRC within 92 days of the grant of an EMI option in order for it to qualify under EMI 6. Each tax year an annual return will need to be submitted online by 6 July following the end of the tax year 7. Instructions must be provided to an employee on how and when the shares can be exercised and how to carry this out.

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Salary Sacrifice Benefits Soon to be Limited The government is making good on its plan to limit the tax advantages of some benefitsin-kind (BiK) when provided as part of a salary sacrifice arrangement. This will affect benefits, such as mobile phone contracts and workplace parking, but not those more traditional benefits, such as pensions and health care.

The government’s ‘Consultation on salary sacrifice for the provision of BiK’ was released in August 2016. The consultation is set to explore the potential impact on employers and employees should the government decide to ‘change the way the benefits code applies when a BiK is provided in conjunction with a salary sacrifice or flexible benefit scheme’.

So what is salary sacrifice?

A salary sacrifice arrangement is when an employer and employee agree to reduce the employee’s cash salary in return for a non-cash benefit. In the past these benefits included pension contributions, childcare vouchers and cycle-to-work schemes.

However, more recently benefits have included cars, mobile phones and gym memberships, and it is this increase in benefits provided that has instigated a review by the government.

The reason these schemes are so popular is because they benefit employees and employers through reducing the amount of income tax and the employer and employers National Insurance Contributions (NICs) due on the employee remuneration. It is thought that this is unfair as not all employees are entitled to a benefit-in-kind through salary sacrifice and not all employers offer the benefit. The government therefore wish to level the playing field. The consultation also includes an example, which shows that some salary sacrifice schemes can cause the exchequer to lose out on £321 per basic rate payer and £391

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per higher rate tax payer per annum.

The changes Before looking at the changes in store, it is worth noting that the more traditional salary sacrifice schemes will be unaffected: • Employer pension contributions • Employer-provided pension advice • Employer-supported childcare and provision of workplace nurseries • Health related benefits, such as cycle-towork • Holiday trading schemes However, for other salary sacrifice schemes the government is looking to remove the income tax and NICs benefits. This will be done by making the employer account for the value of the BiK on their P11d or through their PAYE, which will mean income tax and Class 1A NICs will be charged on the BiK. BiKs currently offered on top of salary will not be affected by the proposed changes.

Despite these changes the consultation makes it clear that it ‘does not prevent employers from providing BiK to their employees through salary sacrifice, but it will remove the tax and NICs advantages that come from doing so’.

Salary sacrifices are a great way to incentivise and reward employees. The core schemes will remain unaffected, but it is important that you are aware of your tax liability should you deliver benefits that will now be taxable.

For further information: Suda Ratnam 020 8418 2681 suda@raffingers.co.uk

Employing Illegal Staff WILL Cost you Thousands The hospitality sector has a higher turnover and employment rate than any other industry, which is why it is no surprise that illegal immigrants also find it the most attractive when seeking work. Yet, with the government adamant to decrease the number of illegal workers employed, the Immigration Act could leave law breaking employers facing a custodial sentence of five years.

A recent case involving Byron Burger unknowingly employing 35 illegal employees has gained media coverage and also highlighted the negligence of some employers in the hospitality sector. Coincidently, on 12 May 2016 the government introduced the Immigration Act 2016. The Immigration Act 2016, which replaces the Immigration Bill, is designed to make it harder for illegal and rogue stayers to work in the UK by imposing stronger sanctions and penalties.

The changes to the act will be enforced periodically over the coming year. Consequently, as of 12 July 2016, two offences are now enforceable: • The law on employing migrants who are illegal: The offence of “knowingly” will apply to employers have “reasonable cause to believe” that a worker is illegal. Failure to take proper precautions could leave the employer with harsh sanctions.

• The introduction of a new offence: “The illegal working” offence will punish those who have breached the act by working illegally.

Failure to carry out thorough checks, can lead to: • For the employer: Depending on the severity of the case, employers can expect to face a

custodial sentence of up to five years and potentially a fine of £20,000 for every illegal worker. An Immigration officer will also have the right to shut down the premises for up to 48 hours. Furthermore, if your establishment sells alcohol, you may risk losing your licence.

• For the employee: Depending on the severity of the case, the employee can expect to face a custodial sentence of up to six months, face criminal prosecution and deportation. The worker can also expect all their earnings made during the duration of their employment to be seized under the Proceeds of Crime Act.

Checking employees It is important to thoroughly check the status of all of your employees prior to them working with you in order to protect yourself from penalties. As best practice, you should only ever accept original documentation that is in date and is a “like-to-like” representation of the potential employee. Always take as much precaution and as many reasonable steps to ensure validity, but also photocopy documents; this will prove helpful when carrying out repeat checks on employees with limited leave. Lighter punishments will be given to the employer if you have been defrauded but failed to correctly do thorough checks. www. gov.uk has a guide on the right way to check your employees’ status to work.

For further advice: Lee Manning 020 8418 2662 lee@raffingers.co.uk

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Partner’s Perspective

Licensing Act and Late Night Levies: How alcohol is costing your business

For many pubs, restaurants and bars, alcohol sales are one of the largest revenue streams for their business. However, a recent call for evidence on the Licensing Act 2003 and the growing introduction of the Late Night Levy may be changing the dynamics of drinking for the hospitality and tourism sector.

On 5 July 2016, the House of Lords committee welcomed the first call for evidence into the effectiveness of the Licensing Act 2003. The main benefit of the act is to give companies more freedom and provide consumers with more choice, such as being able to serve alcohol 24 hours a day. Although the act gives consumers and businesses more freedom, at the same time it allows authorities with powers to address misuse and misconduct of the freedoms. As the act has been in place for 13 years, the call for evidence will review just how effective the Licensing Act is and whether it has caused more harm than good for the sector. As a result, the evidence will focus on: • The power belonging to authorities • The role the act has on local communities • The rights and responsibilities of the industry and the public • Whether the act provides restrictions for communities to enjoy activities • Unit pricing and its potential impact • Fees and costs associated with the act So, just how much has the act helped to support local businesses? In the UK, the night time economy is worth over £66billion and recruits over 1.3 million employees. Also, the act has allowed other sectors to monopolise, such as the transport sector through the

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introduction of 24 hour buses and late night trains.

The act has definitely allowed the UK to benefit from a nightlife economy; however, there are several concerns that have been flagged. The main aim of the act was to allow freedoms for all parties; however, this has also brought disorder and chaos.

As a result, the introduction of the Late Night Levy was brought into place. The levy was designed to help better police local communities by introducing a tax for businesses that wish to operate between 12am and 6am. With this regulation working alongside the act many small businesses in pursuit of expanding and increasing business hours have been negatively affected.

Although the act has exposed the UK to a thriving and growing night time economy, for smaller businesses, surviving is becoming increasingly difficult. In 2014, we saw 300 fewer club premises licenses applied for than the previous year and 468 enquiries on the review of the act made by the police.

With the levy being introduced in many of the UK’s popular nightlife boroughs, small businesses who wish to increase opening hours are likely to be affected the most. The late night levy charges are calculated

The Licensing Act 2003 gives companies more freedom and provides consumers with more choice.

Rateable Value Bands (based on the existing fee bands

Annual Levy Charge

A

B

C

D

E

No rateable value to £4,300

£4,301 to £33,000

£33,001 to £87,000

£87,001 to £125,000

£125,001 and above

£299

£778

£1,259

£1,365

£1,493

on a rateable value and will be collected annually with 70% of the funds going towards policing and reducing alcohol related crime. Please see the table above for full charges Kate Nicholls, chief executive of the Association of Licensed Multiple Retailers (ALMR) stated: “For every £1 cost to stay open after midnight companies already have to generate £4. It’s OK if you’re a late-night business but if you want to be a cafe or restaurant in Shoreditch and stay open late it’s one more deterrent”.

So has the Licensing Act really helped to promote freedom for the sector, or are there other laws that could be better suited to regulate? All in all, removing the act would result in the loss of a booming night time economy, but keeping the act means more money will have to go towards effective parameters.

These will be at the expense of business owners and could indeed hinder the growth of smaller businesses.

F

G

x2 Multiplier x3 Multiplier applies to applies to premises in premises in category D that category E that primarily or primarily or exclusively sell exclusively sell alcohol alcohol

£2730

£4,440

Chair of the Committee, Baroness McIntosh of Pickering, said the investigation is “long overdue”.

The Licensing Act 2003 enabled premises to serve alcohol for 24 hours a day, 7 days a week. While many heralded the Act as the start of a more continental drinking culture, others predicted round-the-clock consumption, leading to disorder and deterioration in public health… But what has the reality actually been like? Has deregulation allowed the drinks industry to thrive? Have drinkers embraced a more relaxed and healthier approach to alcohol? What happened to the anticipated café culture?”

For further advice: Adam Moody 020 8418 2683 adam@raffingers.co.uk

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Head Office 19-20 Bourne Court, Southend Road, Woodford Green, Essex, IG8 8HD Tel: 020 8551 7200 Fax: 020 8551 0912 Email: info@raffingers.co.uk London Office 3rd Floor, 5-10 Bury Street, London, EC3A 5AT Tel: 020 7167 6880 www.raffingers.co.uk facebook.com/Raffingers

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