In a matter of weeks, the rate of VAT is due to rise, imposing a significant financial burden on our business, and the wider hospitality sector, at a time where the industry is fragile and trying to recover.
The Government introduced a reduced rate of VAT of 5% for the hospitality and tourism sectors in July 2020, which then increased to 12.5% in October 2021. The Government plans to increase this further to 20% in April 2022.
Ahead of the Budget, Parkdean Resorts is joining many well-known brands to back UKHospitality's campaign to say #VATsEnough and ask the Government to extend the reduced rate of VAT until at least the end of 2022.
Increasing VAT will add to pressures on the cost of living, damage business viability with high prices and smaller margins, and also damage economic growth and contribute to inflation at the national level.
We will be writing to the local MPs in the communities surrounding our 67 parks, to highlight how important this VAT issue is to the health of their local economy.
We would appreciate any support – you can help save our sector by writing to your own MP about the issue and signing this petition of Parliament.
