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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Jun- 2020 -26 JuneNews
Marston’s profits plunge as Covid-19 leads to £40m sales hit
Marston’s has said it remains “uncertain” about its short-term financial outlook, after its profits took a £40m hit following lockdown. Its latest update comes ahead of the reopening of its estate on 4 July. The brewer and operator revealed that its underlying profit before tax was £9.4m in the half-year…
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22 JuneCoronavirus
Chancellor mulls VAT cut but could follow up with autumn tax rises
Chancellor Rishi Sunak is reportedly considering cutting VAT in order to help stimulate the economy but could follow the move up with a set of Autumn tax rises. According to the Financial Times, Sunak is planning deferred tax rises and cuts to public spending in his autumn Budget as a…
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16 JuneCoronavirus
UKH urges Government to confirm hospitality reopening date
UKHospitality has urged the Government to confirm a re-opening date for hospitality and tourism, to allow businesses to prepare for a return to trading. Following the Government’s announcement of a review of social distancing requirements, the trade body has written to Secretaries of State at BEIS and DCMS, to “reiterate…
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9 JuneCoronavirus
Report predicts 50% fall in hospitality and foodservice turnover
The hospitality and foodservice sector will lose £23bn in the second half of 2020, achieving only 53% of 2019 income levels, according to a new report. Produced by Simon Stenning, founder of FutureFoodservice, the ‘Immediate Future’ of the UK Hospitality/Foodservice market’ report covers the 18 months from July 2020 to…
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3 JuneComment
Social distancing will end the restaurant as we know it
Overall, the UK government deserves praise for providing swift financial support to small businesses. Here at Bia Rebel we have availed ourselves of that support and in an attempt to keep our staff and customers safe we stayed closed. However, now that restrictions are being eased somewhat and everyone is…
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May- 2020 -21 MayCoronavirus
£3.8bn could be spent on hospitality sector in first week of re-opening, study finds
The UK public’s wish to get back, dine out or have a trip away with the family could inject as much as £3.8bn into the economy within a week of lockdown measures easing, according to new research from Caterer.com. The study found that the majority of Brits (63%) are keen…
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20 MayCoronavirus
UKH launches industry roadmap for a safe reopening
UKHospitality has announced the launch of a new campaign that will “highlight that businesses are ready to reopen in a safe and sustainable way” with suitable government support. Alongside the launch of the new #FAIR4Hospitality campaign, the trade body has now called on the government to invest in a “fair…
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14 MayCoronavirus
Brighton Pier Group details cash-saving measures
The Brighton Pier Group has secured £5m in loans in order to shore up cash during the pandemic. Both term loans are for a period of two years and nine months, and are in addition to the group’s existing term debt and revolving credit facility. A loan repayment holiday on…
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4 MayComment
What should restaurants learn from the Great COVID Lockdown?
Celebrity chefs like Mark Hix and Gordon Ramsey have had to close some or all of their restaurants due to the Covid-19 pandemic. Other celeb chefs like David Chang say they are unsure if they can reopen after this is all over and predict a bleak future for the sector.…
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1 MayComment
The coronavirus diaries: Piers Baker
Monday 16 March, 2020 Lunch is a normal affair, 50 lovely guests in, looked after by our brilliant team. Extra vigilance being exercised to ensure the government’s advice is being followed. A smattering of the afternoon drinkers in, numbers had been down for a week or so, understandably. At around…
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