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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Apr- 2020 -29 AprilComment
The coronavirus crisis: The importance of adapting and reacting
Weathering the storm of the Covid-19 pandemic is a challenge for businesses of all sizes and the situation is continuing to change by the day. The food, hospitality and leisure sectors have been hit hard by the need to close restaurants and there is widespread concern over how these businesses…
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24 AprilCoronavirus
Over 80% of accommodation and food service businesses have closed temporarily
A new survey by the Office for National Statistics (ONS) has revealed that 81.2% of accommodation and food service businesses have closed temporarily due to the Covid-19 outbreak. The independent producer of official statistics reached out to 17,786 businesses for its Business Impact of Coronavirus (COVID-19) Survey (BICS), and a…
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6 AprilAdvice
VAT Deferral – What if I can’t get to the office? – MHA MacIntyre Hudson comments
The VAT deferral scheme is automatic but this fact has lulled some businesses into thinking they don’t need to complete a VAT return. It’s easy to think this is no longer necessary, especially as the national shutdown means many businesses can’t physically get to their offices, or have furloughed the…
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Mar- 2020 -30 MarchBusiness Bites
The minimum wage increase is about to hit – and it beggars belief
As if to bang the final nail into the coffin himself, we can only assume the Treasury’s top man, chancellor Rishi Sunak, refuses to give ground on the next wave to crash over the retail and hospitality industries. I am talking of course about the increase in the National Minimum…
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30 MarchGovernment
UK GDP expected to contract by 15% in Q2 2020
The UK economy is about to enter the deepest recession since the financial crisis, including the steepest quarter-on-quarter decline in economic activity since comparable records began, according to the Centre for Economics and Business Research (CEBR). CEBR expects the economy to have contracted marginally in the first quarter of the…
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30 MarchCoronavirus
Restaurant and pub insolvencies rose before pandemic, says UHY Hacker Young
There were 1,452 restaurant and 526 UK pub insolvencies last year, according to UHY Hacker Young. The financial firm said that the industry was “stuck in a long-term slump” even before the onset of the Covid-19 pandemic. Some 1,452 UK restaurant businesses and 526 UK pub businesses entered insolvency in…
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25 MarchComment
The darkest of days: Why the hospitality industry must come together
At the risk of stating the obvious, I’ve never witnessed anything like this during my 30+ years in the hospitality industry. The impact of COVID-19 was exacerbated last week by the Prime Minister’s initial decision to ‘advise’ people to avoid venues such as restaurants and subsequently by the government directive…
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20 MarchBusiness
Covid-19: Government to pay 80% of salary to staff unable to work
Chancellor Sunak Rishi has said the government will pay 80% of wages for employees who aren’t able to work due to the coronavirus, up to £2,500 a month according to the BBC. The “unprecedented measure” comes as the government has unveiled more plans to protect jobs and businesses amid the…
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10 MarchRestaurants
UKHospitality calls for business support to deal with coronavirus threat
Hospitality businesses need “immediate and wide-ranging support” to deal with the threat of the coronavirus, UKHospitality has said. The body, which represents 700 businesses, has written to the prime minister highlighting the impact of COVID-19 “already being felt by businesses around the country”. UKHospitality said hotel occupancy has fallen 15%,…
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Feb- 2020 -3 FebruaryRestaurants
Administrators close Mayfair’s The Square restaurant
RSM Restructuring Advisor has been appointed as administrators to three companies within the Marc Limited restaurant group. As a result, Michelin-starred The Square restaurant in Mayfair, which employed 31 staff, has now closed, after administrations were appointed to its operator Dailyrare Limited. The other affected companies include Mortons the Restaurant…
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