2020/21 Tax Rates and Allowances
This page contains all of the personal income tax changes which were published on the gov.uk site on Fri 28 Feb 2020. These rates come into effect at the start of the new tax year, on April 6th 2020.
As part of his summer statement on Wed the 8th July, the Chancellor announced details of his new 'Eat Out to Help Out' Scheme. The main features of the scheme are listed below. As details are clarified by HMRC, we will update the information in this article.
Main Features of the scheme - from the perspective of the Customer:
- It runs for the month of August 2020
- Vouchers are available to anyone in the UK and can be redeemed at any participating restaurant/pub/cafe.
- The vouchers can be used an unlimited amount of times throughout the month of August and across the UK.
- Vouchers can only be used on Mondays/Tuesdays/Wednesdays.
- The voucher entitles the person redeeming it to a 50% reduction on the price of food and non-alcoholic drink, up to the value of £10.
- A voucher can be used by every diner at a table, including children, meaning each individual can claim 50% off their meal, up to the value of £10.
- The discount excludes alcohol and doesn’t apply to take-away meals, even if from a restaurant.
- Customers do not need to do anything to claim their discount as this will be automatically applied to the bill, so long as the venue has signed up to the Government's scheme.
Main features of the scheme- from the perspective of the Business:
- Businesses who are interested in participating must register online beforehand. This online registration facility will be available from Monday the 13th July at a yet to be announced site/link.
- Businesses can offer a 50% price reduction, per head, on food and non-alcoholic drink, up to the value of £10. This offer extends to each individual at a table, including children.
- The value of reduction by the voucher can be reclaimed through an online form and repayment from the government is promised to be made within 5 working days.
- The discount excludes alcohol and doesn’t apply to take-away meals, even if from a restaurant.
- The scheme runs for the month of August only.
- Businesses should also factor in how they want to address the VAT rate drop to 5%- whether to pass it on to customers, or keep to help themselves balance the books.
Personal Tax
2019/2020 Tax Rates and Allowances
This page contains all of the personal income tax changes which were announced at the October 29th, 2018 Budget. These rates come into effect at the start of the new tax year, on April 6th 2019.
2018/2019 Tax Rates and Allowances
We have published a quick reference to the significant changes to the tax rates and bands, personal tax allowances and national insurance figures which come into effect from April 6th 2018.