Treasury
Reporting covers fiscal policy, taxation, funding schemes, and economic measures introduced or influenced by HM Treasury that directly affect UK hospitality and foodservice businesses. Coverage includes Budget announcements, VAT and duty changes, business rates policy, and support schemes, offering essential context and guidance for operators navigating the financial and regulatory landscape.
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Mar- 2022 -18 MarchAnalysis
13 Spring Statement predictions
With both the global and UK economies coming under pressure from the rising cost of living crisis, which has only been exacerbated by Russia’s invasion of Ukraine, all eyes will be on the chancellor when he makes his Spring Statement speech on 23 March 2022. Here, Christy Wilson, tax associate…
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Feb- 2022 -8 FebruaryGovernment
Over 250 hospitality leaders call for VAT to be held at 12.5%
More than 250 business leaders from hospitality and leisure have written to the chancellor, Rishi Sunak, urging the Government to keep VAT at 12.5% beyond March 2022, according to UKHospitality. It revealed the letter calls on the Treasury to maintain the current level to enable many “fragile” businesses to continue…
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3 FebruaryPubs and Bars
Industry calls on gov to scrap over-taxation of beer and pubs
Trade bodies representing UK brewers, publicans, and beer enthusiasts are calling on the Treasury to reexamine the tax burden currently facing the sector. In an open letter to the chancellor, consumer group ‘One Voice for Beer’ outlined its support for the government’s Alcohol Duty Review, but warned that further action…
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Dec- 2021 -22 DecemberGovernment
Scottish gov introduces social distancing rules for indoor venues
The Scottish government has announced that from 26 December further restrictions will be introduced to combat the spread of the Omicrom variant which includes one metre physical distancing between adults in all indoor hospitality and leisure settings. This includes pubs, bars, restaurants, cafes and other settings where food and drink…
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16 DecemberCoronavirus
Colliers calls for hospitality support amid ‘massive impact’ of Plan B
Calls from Chris Whitty for people to scale back their Christmas plans after Britain recorded 78,000 Covid in one day has had a “massive knock-on impact” on the retail, hospitality and leisure sector, which now urgently needs Government support, according to Colliers. As the public is heeding government advice to…
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Oct- 2021 -7 OctoberTrade Associations
UKH calls for lower VAT rate in new campaign
UK Hospitality has announced a new campaign #VATsEnough which is aimed at calling on the Chancellor Rishi Sunak to make the 12.5% VAT rate permanent for hospitality and tourism. While the Treasury’s decision last year to reduce VAT for these sectors helped many venues survive the crisis, under current plans…
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1 OctoberPubs and Bars
Wetherspoon succumbs to ‘record’ £154m loss
JD Wetherspoon has revealed it has succumbed to a record loss of £157m for the 52-week period ending 25 July 2021. The loss comes after its revenues decreased by 38% to £772.6m after it saw its pubs closed for 19 weeks of the year. Tim Martin, chairman of JD Wetherspoon,…
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1 OctoberTrade Associations
UK trade bodies call for lower rate of VAT, amid 12.5% rise
UK Hospitality alongside other trade associations have joined forces to call on the chancellor, Rishi Sunak, to introduce a permanent lower rate of VAT. Under treasury plans, hospitality and tourism VAT is expected to rise to 12.5% from today (1 October) and will return to its pre-pandemic level of 20%…
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Jul- 2021 -13 JulyBusiness
70% of hospitality businesses confident about prospects, survey finds
Some 70% of businesses have expressed confidence about their future prospects, according to the latest July 2021 Hospitality Snapshot Survey by accountancy firm Haysmacintyre. The survey of 92 pub, restaurant, and hotel operators also found that 82% of hotel respondents were either “confident or very confident” about their future prospects,…
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Jun- 2021 -17 JuneCoronavirus
Rent extension will ‘banish grim shadow’ over sector, says UKH
Kate Nicholls, head of UKHospitality, has welcomed the government’s nine month extension of the rent moratorium – stating that the move will “banish a grim shadow” that has hung “menacingly” over hospitality since the pandemic began 15 months ago. The decision, which was announced yesterday by Stephen Barclay MP, the…
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