The Hospitality trade has now become the 3rd largest employer in the UK but as we see the end of the 5% VAT rate & the introduction of temporary 12.5% VAT rate (& the future return to 20%) we must finally create a new permanent reduced VAT rate of 12.5% for Hospitality & tax our industry fairly.
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As an industry we face unprecedented hurdles. Wages have increased 20%, Food prices have risen by 8.5% since 2018 alongside the costs of operating.
With VAT & Rates rising and higher debts coming out of the pandemic this presents a perfect storm of costs that can't be absorbed by the customer.
We must fix VAT at 12.5% permanently for Hospitality with the introduction of a new 12.5% VAT Tourism Tax in,
• Hot Food
• Soft Drinks
• Hot Drinks
• Events & Door Tickets
• Accommodation
• Attractions