Coronavirus covid-19 – temporary vat reduction (hospitality + tourism) [13th july 2020]

Although many hospitality, accommodation and attractions businesses have already received significant government support through the CJRS scheme, business rates holidays and loan guarantee schemes etc., the Government has now taken a further step to continue to provide ongoing support to businesses in these sector.

Announced by the Government as a financial support targeted specifically at the hospitality and tourism sectors, the temporary reduction in VAT from the standard rate (20%) to a new reduced rate (5%) is to apply to relevant services through to January 2021.

For more details see our Sakura article below.