The Great British Pubco Scam. Pubs are closing all over Britain yet pubs are places that most people love and think fondly of as some of the most significant, treasured, iconic parts of our culture, places to be cherished, nurtured and looked after. Yet they're closing everywhere... WHY? It doesn't make sense does it? Read on...
A bit about me. And a bit about them. And some photographs...
This is from a local forum where I post regularly. People don't appear to believe that publicans have a hard time so I try to put them right:
Alan. The tax on 9 grand a year is very little as is obvious.
For your edification, about the taxes I am responsible for paying, as you evidently didn’t believe me when I told you how much I earn. I pay 29K a year in business rates to Lambeth. The council tax on the flat is £1,300. I pay around 70K a year vat and in the region of 50K paye and NI. I pay myself subsistence wages because I cannot afford to pay myself more and there are no dividends, just personal loans I doubt I will ever be repaid. I do not own the property, it rented, I have spent more on it than it is valued for assignment. I cannot afford a mortgage. The beer I am legally forced to buy from the freeholder is priced such that it is impossible to return a living profit on it. My last rent review is two and a half years past due date and is sitting as an application in an in tray at the court of appeal waiting for a decision as to whether it should be heard or rejected. If it is rejected I will be immediately liable for rent arrears which stand today at around 33K. The freeholder has indicated that they intend to sue me for all their costs for arbitration and appeal. This, conservatively, will be another 50K. My own costs for the rent review to date stand at 30K - one of the reasons I cannot afford to pay myself. If I am unable to pay the back rent the freeholder will put me in an arrears situation and threaten to evict me within two weeks.
Stick that in your pipe.
IF you think publicans have it rosy have a look at The Morning Advertiser website forums.