hospitality budget

Budget 2021, key points for Hospitality

Today Chancellor Rishi Sunak unveiled his Budget in the House of Commons and there’s a fair bit to get your teeth into.

Here’s the 86 guide to the Budget 2021 for the Hospitality industry:

  • Duties on alcohol to be frozen for second year running
  • No additional duties on spirits, wine, cider or beer
  • 5% reduced VAT rate for hospitality firms to be maintained until 30 th September 2021
  • 12.5% VAT rate to apply from July until the end of March 2022
  • Business rates holiday for firms in England will continue until June
  • Business rates discount of 75% from July until the end of March 2022
  • Business restart grants for Hospitality and leisure businesses, of up to £18,000.
  • Furlough scheme extended until the end of September
  • The National Minimum wage is to increase to £8.91 an hour from April 2022
  • New £150m fund to support community led groups take over local pubs at risk of closure
  • ‘Restart Grants’ in England of up to £18,000 per premises for hospitality, accommodation and leisure businesses

More details to follow…..

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