Business rate hikes 'could kill off hair salons'
Business rates increases could be the 'final nail in the coffin' for Britain's beauty and hair salons, Rachel Reeves has been warned.Millie Kendall, chief executive of the British Beauty Council, has written to the Chancellor to call for 'an immediate extension of the protection being shown to the hospitality sector'.She warned that significant tax increases are making it 'impossible' for salons to retain jobs and make a profit.Kendall told the Daily Mail it was 'devastating' that a 15 per cent discount on rates bills has been offered only to pubs and music venues, which the Chancellor announced last month after an outcry that saw more than 1,500 publicans ban Labour MPs from their premises. Cutting back: Millie Kendall has warned Rachel Reeves that significant tax increases are making it 'impossible' for salons to retain jobs and make a profitBut the beauty sector is also struggling, having already been left reeling after a surprise increase in employers' National Insurance contributions in the 2024 Budget.Higher taxes on the sector stand to hit women the hardest, as 86 per cent of its businesses are female-owned. Kendall said: 'We have got to do something to lower those costs. There are only going to be more empty premises.'DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you
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Business rate hikes 'could kill off hair salons'
