£4bn VAT reduction starts Now

15th July 2020

“The reduction in VAT from 20% to 5% for hospitality and accommodation businesses starts today.
The saving could amount to on average £160 per year per person according to the Treasury.
The saving does not necessarily need to be passed onto the customer many firms are expected to use the saving to help their own finances which have been hit by the lockdown.
The VAT reduction will stay in place until 12 January next year.”
Nigel Holland

BBC news on VAT reduction