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" However, UKHospitality CEO Kate Nicholls cautioned that the relief is capped at £110k per company, meaning that was the maximum.."
I knew it was just a matter of time until FunInvestor got his hands on this thread, I knew he just couldn’t resist to dampen this good news.
Not happy with a £12/13m increase in revenue but very deeply concerned about the US box office being 1-2% off of pre-pandemic…
Good news for Cineworld and many others in retail and leisure.
It's for one year only the 50% cut though.
Not had chance to see confirmation on per business/per site.
Even if per site it won't pay any sizeable chunk of our debt though.
Max benefit £12/13m!?
As a certain retailer says though "every little helps"
Nice one p.w , wishing we had a more cinemas in the UK now , but any saving as you rightly say should and hopefully go towards something meaningful
This is fantastic news for CINE in that case! less tax means more money in our pockets and more money to pay back debt and perhaps more money for dividends later on :)
The future is bright imo!
As my friend owns a few gyms and he is buzzing about it. As its per rateable building. He pays different business rates on each.
Wow PW, really? That’s fantastic, where did you find it out?
It will be per rateable venue! So that is brilliant for Cineworld. They will be saving a fortune now, hopefully pay off some debt. Great news.
"Any eligible business from across the pub, music venue, cinema, restaurant, hotel, theatre and gym sectors can claim a discount on their bills of 50% up to a maximum of £110,000."
Whether a Cinema site is ran as a separate business or they all are covered as an umbrella of cineworld, I don't know.
Up to £110,000 per rateable venue not per company surely?
No way, only read the headline Dam it
up to £110,000.
Boommmm