The Chancellor Rishi Sunak has announced a temporary 5% VAT rate which will come into effect from 15 July to 12 January 2021. The main areas which will be affected are:
- Sales of Food and non-alcoholic drink in restaurants, pubs, bars, cafes and similar premises;
- Hot takeaway food and non-alcoholic beverages;
- Sleeping accommodation in hotels, B&B and similar accommodation including holiday accommodation, pitch fees for caravans and tents and associated facilities; and
- Admissions to tourist attractions such as theatres, concerts, amusement parks etc.
The changes are not limited and will impact on any businesses or organisation that provide food or drink, accommodation, or are considered a tourist attraction. For more details visit our VAT page here. Or download our free VAT Rate Cut Factsheet here.
If you have a query about the VAT rate change, contact our team today at email@example.com.