Chancellor Announces VAT Cut for Hospitality Sector

Chancellor Rishi Sunak has announced a VAT cut for the hospitably sector in his address to the Commons this afternoon

In his address to the Commons this afternoon, Chancellor Rishi Sunak announced a VAT cut for the hospitality industry starting from Wednesday July 15.

The VAT cut will remain in place until January 12, 2020.

In his address he said that “the hospitality sector has been particularly badly hit” and he promised to cut VAT on food, accommodation and attractions.

“VAT will be reduced, from next Wednesday until January 12th, from 20% to 5%,” he says.

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