What & Why?
So, the scheme essentially offers diners a 50% discount on eat-in food and booze-free beverages up to a value of £10 per person, Monday’s - Wednesday’s throughout August. It’s designed to provide a helping hand to the hospitality industry, who have been pretty hard hit by the pandemic.
Who can Qualify?
Not sure if you qualify? Basically, if your establishment:
- Has its own shared dining area for eat-in meals
- Was registered before 7th July as a food business with the relevant local authority
- Sells food for immediate consumption on premises
Then you’re eligible! Unfortunately, if you only offer take-away, room service, catering or are a mobile food van service, this scheme isn’t the one for you.
How does it work?
Well it’s pretty simple, you can register your establishment online. You can register multiple establishments (up to 25), but this must be done separately. Once you’ve successfully registered, you’ll receive a reference number - THIS IS IMPORTANT! You’ll need this number for your reimbursement, so don’t lose it.
From here, you claim your reimbursements weekly, starting from the 7th of August.
How will people know I’m registered?
This is an easy one. Our government has a handy postcode search, which your establishment will appear on once you’re registered.
What’s the deal with VAT & Tax?
So, yes reimbursements are taxable income. On top of this you’ll also have to pay VAT on the full amount of each bill. Speaking of VAT - don’t forget the VAT deadline on the 7th!
Need to know more?
Here at Accountancy Cloud, we’re dedicated to turning chaos to clarity. If you want to take the head-ache out of accounting, be sure to get in touch with us today! For more information regarding the Eat Out to Help Out scheme, check out the government guidance.