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From today (15th July) the rate of VAT on eat-in or hot takeaway food has been cut from 20% to 5% until 12th January 2021.

The temporary VAT cut was announced as part of the Summer Statement as an urgent response to the coronavirus pandemic as part of the effort to support businesses impacted by forced closures and social distancing measures.

Last week, ACS received clarification that any vendor providing food and drink for consumption on the premises, or hot takeaway food or drinks are eligible for the reduced rate, including local shops.

ACS (the Association of Convenience Stores) has responded to speculation on the Prime Minister’s plans to ban promotions of unhealthy products and restrict where these products can be sited in store.

It has been suggested that the Government is planning to prevent shops from offering promotions on targeted products and a ban is also expected on sweets and chocolates promoted at the end of supermarket aisles and entrances.

Today (8th July) the Chancellor delivered a financial statement to Parliament setting out the Government’s latest Covid-19 related policy measures.

During his statement, Chancellor of the Exchequer Rishi Sunak confirmed that the furlough scheme will end ‘flexibly and gradually’ in October.

ACS (the Association of Convenience Stores) has responded to the publication of a new report from a House of Lords Committee, highlighting the important role of the convenience sector in providing healthy options for local people and encouraging Government to make it easier for stores to be involved with programmes like Healthy Start and free school meal vouchers.

Today (3^rd July) the Competition and Markets Authority (CMA) issued a joint statement alongside a number of trade bodies, including ACS, highlighting concerns about a small number of businesses that are involved in price gouging. Evidence received as part of the taskforce revealed price increases on products such as paracetamol, flour, meat, toilet roll, rice and eggs.