VAT: temporary reduced rates for tourism and hospitality-related activities

As announced in the Government’s Economic Statement on 8 July 2020, the rate of VAT applied on most tourism and hospitality-related activities will be cut from 20% to 5%.

The Government says this measure will save households around £160 per year on average.

Further details on the measures announced in the Economic Statement can be found at https://www.gov.uk/government/news/rishis-plan-for-jobs-will-help-britain-bounce-back.

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