Who ate all the pies? Price of hot pies and pasties to jump by 20%

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Audrey Fearing, VAT partner at EY commented:

 “The Chancellor today announced changes that nibbled away at the edges of the current food VAT reliefs. Consumers can expect to see the cost of some of their favourite sports nutrition drinks, as well as hot pies, pasties and the like to jump by 20%, with effect from October 2012.

“The changes are being made in order to level the playing field.  Most other drinks are already subject to VAT at the standard rate, as is the sale of hot take away food.”