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- 2024 -13 JuneTrade Associations
‘Back hospitality to serve Britain’, UKH urges
UKHospitality plans to call on all political parties to give their backing to the sector at its annual summer conference, as it maintains that hospitality can grow at a “significantly” faster rate than the wider economy. According to economic analysis from UKH and Ignite Economics, the sector can grow by…
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May- 2024 -31 MayNews
Today’s news in brief – 31/05/24
Revolution Bars has ended its formal sales process after it did not receive any proposals relating to the acquisition of the entire issued and to be issued share capital of the company. It comes just days after the company turned down what it called a “highly conditional” offer from rival…
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31 MayRestaurants
Increased VAT has restaurants worried about survival, says RAI
More than nine-in-10 respondents have said that the reduced VAT rate of 9% for the food-led hospitality sector, which increased to 13.5% last September, had been critical to the survival of their business, according to a new survey conducted by Interpath Advisory and the Restaurants Association of Ireland (RAI). The…
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31 MayOpinion
Are we really out of the woods?
For most of us in hospitality: the last nine to 12 months have been very challenging indeed. One well known operator said to me recently that these were the worst trading conditions he had encountered in 40 years. My hospitality career nowhere near stretches that long, but I agree with…
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20 MayTrade Associations
NTIA dismayed by alarming Q1 nightclub closures
The NTIA has expressed “profound” dismay over recent CGA figures that revealed a total of 67 nightclubs closed in the first three months of 2024, equating to roughly five closures per week. Of these closures, nearly four on average were independently run, totalling 48 independent closures and 19 managed or…
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1 MayBusiness
Administration cases within hospitality double, NTIA finds
The hospitality and night-time economy sectors have experienced a significant increase in businesses going into administration, a recent report by Shakespeare Martineau for the NTIA has revealed. The year-to-date data for April 2023 to March 2024 was concerning, with 193 administrations in the hospitality and night time economy industries accounting…
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Apr- 2024 -24 AprilRestaurants
Tortilla revenues rise 14% to £65.7m in FY23
Tortilla has reported that revenues rose by 14% to £65.7m in the year to 31 December 2023, as it built on the momentum from the previous year’s record. Like-for-like revenues also grew 3.6% during the period, equivalent to 4.9% when adjusted for the Q1 VAT benefit from 2022. Meanwhile, adjusted…
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8 AprilTrade Associations
Latest travel strike widens industry losses to over £5bn, NTIA says
The Night Time Industries Association’s CEO, Michael Kill, has warned that the latest transport strike action has widened hospitality sector revenue losses to more than £5bn. News follows the recent industrial action announced by the ASLEF union and London Underground, which ran from 5 April until today (8 April) and…
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Mar- 2024 -20 MarchTrade Associations
NTIA and Institute of Hospitality confirm strategic partnership
The Institute of Hospitality has announced its partnership with the Night Time Industries Association (NTIA), with the aim that the collaboration will assist both member organisations in better supporting their members on key industry issues. The organisations said the tie up comes with the hospitality profession “still under economic pressure,…
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8 MarchNews
Today’s news in brief – 08/03/24
BM Caterers has won contracts worth more than £10m over the last six months, with clients across the legal, investment, real estate and media sectors. The group’s new clients include global real estate investor, developer and manager Hines, law firm Lewis Silkin, and power tools business STIHL. The NTIA has…
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