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- 2024 -29 JanuaryRestaurants
Buzzworks sees revenues rise to £29.9m
Buzzworks Holdings Limited has reported a 19% increase in revenue to £29.9m for the year ending 30 April 2023. Its like-for-like sales were also up 5.3% for the five weeks to 31 December 2023 which came on top of “strong growth” last year. However, the group recorded underlying EBITDA before…
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24 JanuaryPubs and Bars
Wetherspoons H1 sales rise 10.1%
Wetherspoons has revealed that like-for-like sales were 10.1% higher during the 25 weeks to 21 January compared with last year. The pub chain attributed its performance to bar sales rising by 11.8%, food by 7.9%, and slot and fruit machines by 10.4%. Hotel rooms in its pub estate also saw…
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19 JanuaryFood and Drink
Hospitality venues’ sales rise 8.8% over December
Restaurants, pubs and bars saw sales rise by 8.8% over the latest Christmas period compared with data from 2022, according to the latest CGA RSM Hospitality Business Tracker. According to CGA and RSM, the industry saw a sharp increase from 4% in November to more than 8% in December, and…
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17 JanuaryPubs and Bars
NTIA accuses Government of systematically closing nightlife
The Night Time Industries Association (NTIA) has accused the Government of systematically closing nightlife following the news of the Rekom Group calling in administrators. Rekom, which owns the Atik and Pryzm brands, said any restructure of the business could see some of its well-known nightclubs shut for good. As a…
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2 JanuaryNews
Today’s news in brief – 02/01/24
The DLUHC has allocated £25m from the Community Ownership Fund to aid over 70 pubs, cinemas, and museums across the UK. This funding aims to sustain the operations of these community assets and ensure safety in communal areas. Each selected project will receive up to £2m, with 26 community centres,…
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2 JanuaryTrade Associations
UKH sets out plan for 2024
UKHospitality has unveiled a three-point plan which it will focus on in 2024 to put hospitality at the “front and centre of policy making” ahead of the next General Election. The plan includes generating investment through root and branch reform of business rates, creating jobs through Apprenticeship Levy reform and…
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Nov- 2023 -22 NovemberNews
UKH criticises 10% rise in NLW amid business rates row
UKH has criticised the government’s latest announcement that the National Living Wage will rise 10% and 28p more than originally planned, saying that this increase will have a “knock-on” effect on businesses already struggling with costs. Yesterday, the government announced that the NLW will increase to £11.44 from April 2024,…
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21 NovemberNews
Today’s news in brief – 21/11/23
The NTIA warned that one-fifth of night-time businesses might collapse by January without government support. Over 70% are barely breaking even or running at a loss. Independent businesses make up over half, with 95% calling for a VAT cut and 78% urging an extension of pandemic-era business rates relief. Michael…
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21 NovemberPubs and Bars
One fifth of night time businesses face collapse, NTIA warns
One fifth of night time economy businesses face collapse before January without government support in the Autumn Statement, according to the Night Time Industries Association (NTIA). Almost three quarters (72%) of businesses stated that they were barely breaking even or making a loss. Over half (55%) of the businesses polled…
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7 NovemberPubs and Bars
Oakman Group profits fall despite jump in sales
Oakman Inns and Restaurants has reported that its EBITDA dropped from £12.0m to £9.8m for the last financial year (June 2023) as its profits were impacted by inflation. However, its group sales were 8% ahead of the prior year at just under £70m. In addition, like-for-like sales for the core…
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