Business rates holiday and VAT cut extended.
Wednesday, January 20, 2021
Ahead of the March Budget, UKHospitality wrote to Chancellor Rishi Sunak laying out the extra measures needed to speed up the relaunch of the UK's hospitality sector, cut unemployment and unite the entire nation.
UKHospitality Principal Kate Nicholls said: "Government financial support has been key – the two principal pillars of support, slashing hospitality VAT to 5% and providing a business rates holiday, have helped give employers the lifeline they needed to survive. We know from recent history that hospitality has the economic clout to be in the vanguard of economic recovery once the crisis has passed, but only if essential support is extended.
The UKH also encouraged the Government to use the upcoming Budget to announce additional business support, including postponement of tax payments until December 2021 and support to the hospitality industry in the event of supply chain disruptions.