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Temporary VAT reduction for hospitality and tourism sector

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Temporary VAT reduction for hospitality and tourism sector

The Chancellor, Rishi Sunak today announced there will be a six-month reduction in VAT from 20% to 5% for the hospitality and tourism sectors to protect millions of jobs, whilst benefiting both businesses and consumers.

The temporary VAT reduction covers the period 15th July 20 to 12th January 21. This will have a direct impact on food from restaurants, cafes and pubs; accommodation in hotels, B&B’s and campsites, as well as attractions like cinemas, theme parks and zoos.

If you have any questions or would like further information, please get in touch with Jake on 01227 277667 or by emailing him at j.mackenzie@mphaccountants.co.uk.

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