Submitted by Alice Woods on Thursday 21st January 2021
Published on Thursday 28th January 2021
Current status: Closed
Closed: Wednesday 28th July 2021
Signatures: 559
Relevant Departments
Tagged with
10 years ~ 5% VAT ~ business rates ~ Covid ~ Covid restrictions ~ Covid-19 ~ deeply ~ Events ~ Extend ~ high street ~ High Streets ~ hospitality ~ part ~ street ~ Tax ~ Trade ~ VAST ~ Young people
Enhance support for the hospitality, events, leisure and entertainment sectors
For businesses in hospitality, events, leisure and entertainment:
- Extend the repayment term of the CBILS loans from 6 to 10 years
- Allow deferred VAT repayments to be spread over 24 months instead of 11
- Continue to suspend business rates for those hardest-hit
- Extend the 5% VAT rate
The hospitality, events, leisure and entertainment sector has still not been allowed to trade due to Covid restrictions. It is deeply unfair that these businesses will have to start repaying loans and tax deferrals within a matter of months. This will kill many businesses who are hanging on by a thread.
Businesses in this sector employ a vast workforce many of whom are young people. They are an important part in creating employment opportunities and a vibrant high street.
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