On 8th July 2020, a temporary 5% reduced rate of VAT for certain supplies of hospitality, hotel and holiday accommodation, and admissions to certain attractions was introduced by the government.
The above changes took effect on 15th July2020 and were due to expire on 12th January 2021. However, following Rishi Sunak’s recent announcement, the temporary VAT reduction will be extended until 31st March 2021.
These changes have been brought in to support businesses critically affected by the coronavirus pandemic.
If you have any questions in relation to the above or would like further guidance, please do not hesitate to contact Jake on 01227 277667 or by emailing him at email@example.com.