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…..