Tuesday, December 7, 2021

Tag: VAT

Reduced VAT petition gains over 2,000 signatures

Reduced VAT petition gains over 2000 signatures
A petition calling on the Chancellor to retain the current 12.5 percent VAT rate for the hospitality industry beyond its April deadline has gathered more than 2,000 signatures.

#VATsEnough: New campaign calls for Chancellor to ‘lock in’ low VAT permanently to boost hospitality and tourism

Thorpe Park Runaway Mine Train #VATsEnough VAT campaign
A major new campaign is calling on the Chancellor Rishi Sunak to make the 12.5percent VAT rate permanent for hospitality and tourism. Doing so say organisers, will enable sector businesses to create 125,000 jobs, avoid damaging price increases and accelerate the UK’s post-pandemic economic recovery.

JD Wetherspoon unveils plans for worker directors as company confirms record loss

JD Wetherspoon confirms record loss
Tim Martin has confirmed an imaginative plan to bring experience and knowledge to its board but can’t escape record pre-tax loss of £154.7 million.

Trade bodies call on Chancellor to keep VAT at 12.5 percent

Rishi Sunak Trade Bodies call on Chancellor to keep VAT at 12.5 percent
An alliance of leading trade associations has undertaken a large-scale survey of businesses to establish the impact of an increase in VAT and the results don’t make pleasant reading for the government. Keep the rate down, they argue, or risk the recovery of hospitality around the UK.

Pubs pondering a price rise on a plate and a pint

hospitality VAT
The government will start reining in the temporary reduction in VAT for the hospitality sector next week with the rate rising from 5 to 12.5 percent. And with it will come a probable rise in prices at pubs. That’s the signal from a small survey of publicans who say that they expect to increase the price of a pint and food.

BBPA hails success of National Hospitality Day

National Hospitality Day BBPA
The British Beer and Pub Association has estimated that over 18 million pints were served during National Hospitality Day on 18 September, after issuing a rallying call for pubgoers to support their local.

Pubs lose £25m in beer sales over bank holiday, according to trade body

BBPA Pubs lose £25m beers sales over bank holiday
The BBPA is urging government to invest in the sector to help it bridge the gap in revenues and enable pubs to play a leading role in building back better.

BBPA reports pubs overpay £570m in business rates

Business Rates being overpaid BBPA
The British Beer and Pub Association has reported that pubs overpay their fair share of business rates by £570m annually, as it calls for “root and branch” reform.

Off The Record: Bank Closures / Labour Crisis / Afghanistan / HMRC / Extinction Rebellion / Beefy appointment / Bank Holiday

Off the Record HMRC Bank Closures Afghanistan
Our shame in Afghanistan, the demise of bank branches, job candidates who don’t show-up for interviews, Ian Botham’s prospects as a trade envoy, what to expect next from HMRC and why Extinction Rebellion need to know their audience a bit better - all topics covered in this week’s Off The Record.

The 16 year war is over: HMRC decides to stand by Tribunal decision on gaming machine VAT

HMRC office VAT
Finally, some 1,000 businesses in the industry will receive their money back having handed over VAT on gaming machines when it wasn’t due between 2005-2013. After countless court cases HMRC once again stepped back from prolonging the dispute and decided against an appeal. Now, off the battleground and into the treaty negotiations: how long will it take to return the money?

Showmen call on the Treasury to extend reduced VAT on ticket and food-sales

showmen VAT lobbying
The Showmen’s Guild has renewed parliamentary lobbying through the APPG on Fairs and Showgrounds, sending a letter to the government to extend the reduced 5 percent VAT rate beyond mid-September.

HMRC ‘carefully considering’ Tribunal decision on VAT refunds as days to appeal count down

HMRC VAT offices tribunal appeal
By Thursday, HMRC will be past the half-way point of the allocated time-frame of 56 days to appeal the First Tier Tribunal decision in the Rank versus HMRC case. Last week, though, the tax office updated Coinslot of its position regarding an appeal, stating: “We are carefully considering the FtT decisions before deciding on next steps.”

Industry reaction: The 20 year battle over VAT on machines – The casino perspective

Simon Thomas HMRC VAT decision reaction
Simon Thomas has watched this VAT battle unfold and unravel all the way through the past two decades and takes a pragmatic view on things now, we assume, the matter is resolved. It’s time to look forward, he says, but it’s also time to pay the money back and as quickly as possible.

Industry reaction The 20 year battle over VAT on machines – The amusements trade association

John White Bacta HMRC VAT tribunal reaction
Bacta CEO John White understands the sense of relief and simmering anger following last week’s First Tribunal’s decision backing the industry in the 20 year battle over VAT on machines.

Industry reaction The 20 year battle over VAT on machines – The Business Group

Peter Hannibal Gambling Business Group HMRC
Peter Hannibal of the Gambling Business Group knows a thing or two about the Rank versus HMRC case put before the First Tribunal last year.

Industry Reaction: The 20 year battle over VAT on machines – An operators view

Jason Frost has been keeping a close eye on the First Tribunal outcome, not just as an operator but also with an interest wearing his Euromat presidency hat. However, it’s the cost at small business level that concerns him most; the return of this money is needed now more than ever as the industry grapples with the post-Covid economic environment.

White demands explanation from Treasury on VAT repayment delay

HMRC VAT refund delay Bacta pressure
Operators that incorrectly paid VAT on certain machines in a period up until 2005 deserve to be repaid, says Bacta CEO John White, who has written to the financial secretary to the Treasury emphasising the importance of cash resources to operators during an economic crisis and demanding an explanation for the delay and a timetable for repayment.

Tribunal brings to a close 21 years of fighting over VAT on machines: Judge rules in favour of Rank Group in landmark case against HMRC

Rank Group - Tribunal brings to a close 21 years of fighting VAT HMRC
For over two decades - and maybe closer to quarter of a century - the industry and HMRC have been playing VAT ping pong through the courts and through their banks accounts in a fierce battle over tax due on S16/21 and S31/34 machines.

Freedom day Delay: The pier perspective

Weston Grand Pier Freedom Day Delay
We’re in the final furlong but staff shortages are “the biggest problem”, says Michael

BALPPA: Industry reopened, but not yet recovered

Paul Kelly BALPPA clip
Members of the British Association of Leisure Parks, Piers and Attractions have survived one of the most challenging years in history of their industry, but CEO Paul Kelly wants to make sure the government knows that while many attractions have reopened, they still need support to fully recover.

Bacta calls on Treasury to speed up process for VAT refunds

Bacta HMRC letter VAT refunds delay
It’s only taken 20-plus years to get VAT refunds on the go, and we’re still not there yet. Since the late 1990s, and through to 2013, businesses in the gaming machines sector were paying VAT on non-vatable products, and thanks to the courts, they have been due a refund on the first tranche of that overpayment - estimated at circa £500-750 million - for well over a year now.

Bacta lays out plans for post-Covid campaign issues

Bacta outlines post covid plans
Trade association Bacta has outlined the key themes in its post- Covid lobbying campaign with tax concessions and long term support topping the agenda over the coming year

Lost forever: 2,000 pubs, 2.1 billion pint sales, and £8.2bn in trade

BBPA Pubs reopening
The BBPA has revealed the extent of the devastation to pubs and brewers one year on from the first Covid-19 lockdown, reiterating its view that government must ensure pubs can operate without restrictions on June 21.

Horwood: “We have noticed an increase in enquiries and orders”

Mark Horwood UDC Roadmap to recovery
The roadmap is a ‘massive boost’, says Mark Horwood of UDC. But it doesn’t mask the discrepancies in the government support schemes, which for the next ten weeks will be crucial. Top of the list for the machines distributor is consistent application of the VAT cut across the sector.

Arcades need more clarity on opening, especially arcades that sit within other venues

Anne Ackord Brighton Pier Group Roadmap to recovery
For a pier operator, the government’s roadmap is a maze. Can arcades on Brighton Pier open or not, for example? A simple question, but there’s nothing simple for the industry under current reopening guidelines as BPG chief executive Anne Ackord notes. All she wants is no u turns - “we’ve had too many of those”.

Mark Jepp: If the prime minster is following the data then the milestone dates should be brought forward at the very least

Mark Jepp assessment Government handling of pandemic
Mark Jepp hasn’t pulled any punches in his assessment of the government’s handling of the pandemic - the paradox, he says, is the vaccine has led to a longer lockdown not an earlier reopening.

Two Easters and a Mayday down, but caution beats lockdown 4

James Anderson Bandai Namco BNAE Roadmap
BNAE’s James Anderson is fairly stoic about the roadmap - at least there’s something to work with, he suggests. But the loss of three bank holidays does rankle and the continued confusion surrounding FECs and AGCs makes the roadmap to recovery a bumpier one than hoped for.

Closing time? ‘Cautious’ reopening will cost pubs £1.5 billion’

Emma McClarkin pubs BBPA Roadmap to Recovery
BBPA CEO Emma McClarkin says that only two in five pubs will be able to open in April. Almost as many are running the risk of calling time before they even open their doors - forever.

Road to recovery: Furious, frustrated and a roadmap to redundancies

John White Bacta Roadmap to recovery
There was nothing sanguine about Bacta’s response to Boris Johnson’s roadmap to recovery. The gentlest warning John White could sound was “the existential threat” now facing seasonal businesses. Seven bank holidays and two Easter weekends have now been lost - and with a roadmap leading to a red light, the sector is deflated, both mentally and financially

Coin-op pushed into the slow lane on government’s roadmap to recovery

roadmap to recovery
It wasn’t the roadmap the coin-op industry was hoping for, nor needed. Instead of driving in the fast lane towards recovery, Boris Johnson’s plan to get Britain’s business traffic moving again shunted coin-op on to the hard shoulder.