#VATsENOUGH – supporting UKHospitality
UKHospitality has launched its #VATsENOUGH campaign today, asking Chancellor Rishi Sunak to commit to a permanent low rate of VAT for hospitality and tourism in his upcoming Autumn Budget on 27th October.
We are acutely aware of the immense challenges the hospitality industry has faced and continues to face. Both Brexit and the Covid-19 pandemic have had an enormous impact on this sector: after successive lockdowns, operators are now navigating a shortage of skilled labour, inflation on goods and wages, and supply chain issues.
The VAT reduction was a welcome initiative that provided some support as the sector began its recovery, but VAT is set to revert to 20% in April 2022. This rise will place yet more strain on an industry already under pressure.
We encourage the government to review this change. It is imperative we invest in the future of our hospitality industry.