Summer economic update: Chancellor announces VAT cut and discount scheme for hospitality sector
Cut to 5% for six months
Chancellor of the Exchequer Rishi Sunak has announced VAT is to be cut to 5% for the hospitality sector, along with an “eat out to help out” discount at restaurants in his summer economic update.
The hospitality sector, including food (and non-alcoholic drinks), accommodation and attractions, will see VAT cut from 20% to 5% from 15 July 2020 until 12 January 2021, which will provide a "£4bn catalyst",...
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