Tax Equality Day
Tax Equality Day – 19th September
So what is Tax Equality Day
On Thursday 19th September (TODAY) it’s a day that some pubs will be cutting the price of all food and drink by 7.5%.
So what does this mean?
Did you know that compared with supermarkets who have ZERO VAT on all food, pubs on the other hand are subject to 20% VAT on food and drink. This means supermarkets are able to use such savings and sell alcohol at a discounted price.
Wetherspoon founder Tim Martin mentions that “Pubs suffer a huge disadvantage, paying about 16 pence in business rates per pint versus about two pence for supermarkets.”
So what will reducing prices by 7.5% show?
It’s a way to promote the benefits of lowering VAT in the hospitality industry for one day only.
For customers they benefit as they can save.
For the hospitality industry it’s bringing more equality for pubs.
As pubs are generally paying a third of their turnover in VAT a cut in the rate of VAT could perhaps allow pubs to invest some of this money investment and growth which thus in turn create opportunities
For example a meal costing generally £10, today would be £9.25.
Can you update and amend prices on the eatPOS EPOS?
Of course you just log on to your back office dashboard in menu management and update the price of your products through the simple product editor! The updated price changes for today will sync immediately across your EPOS, APPS, ONLINE ORDERING, SELF SERVE KIOSK, WAITER TABLETS, TABLET EPOS.
To learn more give eatPOS a call on 0116 3800 299 or drop us an email on enquiries@eatpos.co.uk
