£1 levy ‘won’t benefit all’
There will be winners and losers if, as seems likely, the £1 levy is implemented next year.
Analysts claim high-end operators will benefit, although there is widespread concern that new entrants will find it harder to get into the industry because they will still be required to bond, as well as provide some sort of personal guarantee.
“Entrepreneurs may find the extra cost requirements prohibitive, which will be disastrous,” said one insider.
Accountant Chris Photi, partner at White Hart Associates, said one client selling luxury holidays could save between £30,000-£40,000 a year under the levy.
“The ones that will suffer will be operators selling huge amounts of low-value,” he said.
“The levy will make it easier for existing businesses and will work out cheaper for the bigger companies.”
By Lisa James
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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