VAT Reductions

On the 8th July ’20 the UK Government announced that it would introduce a temporary cut in VAT, from 20% to 5%. The reduction would apply to businesses that are already VAT registered and would include eat-in or hot takeaway food and non-alcoholic drinks from restaurants, cafes and pubs; accommodation in hotels, B&Bs, campsites and caravan sites and attractions like cinemas, theme parks and zoos. 

The lower tax rate will be implemented next Wednesday, 15 July 2020, and will remain in place until 12 January 2021. 

Further details can be found at: 

https://bit.ly/hmrc2020

VAT Reductions
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