Winter Economy Plan: Extension of 15% VAT cut for tourism and hospitality sectors

The Chancellor Rishi Sunak outlined additional government support on 24th September 2020 aimed at providing  certainty to businesses and workers impacted by coronavirus across the UK.

As part of the 'Winter Economy Plan' package, it was announced that the government will extend the temporary 15% VAT cut for the tourism and hospitality sectors to the end of March next year, 2021. This will give businesses in the sector - which has been severely impacted by the pandemic - the confidence to maintain staff as they adapt to a new trading environment.

Read more at GOV.UK 

https://www.gov.uk/government/news/chancellor-outlines-winter-economy-plan

 

Posted on: Wednesday 7th October 2020