Yesterday the Chancellor announced measures to get our economy moving again and support some of the sectors that have hit hardest by the challenges of lockdown. This includes the leisure, hospitality and tourism industry where the highest number of businesses haven't been trading throughout much of lockdown.
I welcome his announcement to temporarily cut VAT down from 20% to 5% for businesses such as pubs, restaurants, cafes, accommodation etc. This will make a huge difference, saving lots of money for those businesses to keep them afloat!
The reduced rate will apply to supplies that are made between 15 July 2020 and 12 January 2020.
Read more here: https://www.gov.uk/guidance/vat-reduced-rate-for-hospitality-holiday-ac…