VAT
We report on VAT policy and its implications for the UK foodservice and hospitality sector, including rate changes, government decisions, lobbying campaigns, and compliance challenges. From reduced VAT measures during the pandemic to the sector’s push for permanent reform, this brings together essential updates that affect margins, pricing, and profitability. Whether you’re a small independent or a multi-site operator, understanding VAT is critical to managing costs and planning for sustainable growth. Our coverage is written to support chefs, operators, F&B leaders, and finance teams navigating a complex and evolving tax landscape.
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Jan- 2022 -7 JanuaryBusiness
Everards reports £3.4m loss in FY21
Everards has reported an operating loss of £3.4m for the financial year ending September 2021, along with a £1.3m loss for the year ending September 2020. The company said that trading restrictions for nine months of the year is the reason behind the loss, which was reportedly driven by a…
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4 JanuaryRestaurants
Tasty hit by ‘weaker’ Christmas trading period
Restaurant group Tasty has revealed that trading across for the second half of the year up until December 2021 was “disappointing” and “weaker” than previous years as a result of Covid-19 restrictions. The rising infection rates of the Omicron variant and in particular the reinstatement of working from home advice…
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Dec- 2021 -21 DecemberCoronavirus
Sunak unveils £1bn support package for Omicron-hit businesses
Chancellor Rishi Sunak has announced a further £1bn support package for businesses impacted by the new Omicron variant. As part of the support, businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up to £6,000 per premises. There will also be more than…
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21 DecemberNews
Weekend hospitality sales plummet 40%, UKH finds
New figures show over half (54%) of venues were down more than 40% in revenues last weekend, according to industry body UKHospitality. One in five businesses reported a sales drop of more than 60%, whilst 88% of operators say they feel negative about the potential of New Year’s Eve trading.…
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20 DecemberCoronavirus
UKH calls for gov support amid threat of further restrictions
UKHospitality has called on the government to provide the necessary support to the hospitality sector amid reports that further restrictions to help battle the surge in Omicron cases could soon be announced. UKH chief executive Kate Nicholls said that need for support comes as trading has already been “hugely damaged…
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13 DecemberFood and Drink
Drinks sales dip for second consecutive week, CGA finds
Britain’s drinks sales have fallen short of pre-pandemic levels for the second week in a row, as average sales by value in managed pubs, bars and restaurants in the week to last Saturday (4 December) were 14% down on the same week in 2019, CGA’s Drinks Recovery Tracker shows. Drinks…
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6 DecemberFood and Drink
One in five restaurants forced to shut amid supply issues
Almost one in five partner restaurants have been forced to close their doors during business hours over the past three months because of supply chain issues, according to a new survey by Deliveroo. Of the restaurants polled, 54% have had to remove items from their menus due to lack of…
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Nov- 2021 -12 NovemberBusiness
Hospitality remains an ‘industry in peril’, UKH warns
The hospitality sector is ‘an industry in peril’ according to the latest edition of the UKHospitality and CGA Quarterly Tracker, which has revealed both Q3 2021 sales and full 12-month figures are nearly half what they were over the same period pre-pandemic. The data shows a 45% drop in sales…
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Oct- 2021 -28 OctoberGovernment
UKH welcomes ‘positive’ Budget speech but urges Gov to ‘go further’
UK Hospitality has said yesterday’s (27 October) announcements by the chancellor in his Budget speech are a positive step but also urged the government to “go further” to support the “fragile” industry. It comes after Rishi Sunak unveiled a 50% discount on business rates for the hospitality, retail and leisure…
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25 OctoberTrade Associations
Over 200 CEOs sign letter urging chancellor to permanently keep 12.5% VAT
Over 200 chief executives of the UK pubs, bars, restaurants, cafés, hotels, leisure parks, nightclubs, entertainment venues, and visitor attractions have signed a letter to the chancellor urging for a permanent cut to VAT. Ahead of his Budget next Wednesday (27 October), industry leaders have called for a permanent reduced…
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