Giving his Summer Statement on 8 July, the chancellor announced a headline measure of VAT on food, accommodation and attractions being cut to just 5%.
What a difference! Just weeks ago, our coastal towns were silenced under the UK-wide lockdown and now life is coming back to some of the nation’s favourite seaside resorts, albeit with a few caveats.
There have been a number of significant changes in recent weeks, as shops and businesses begin to make the slow return to a “new normal” as lockdown eases.
To support businesses most affected by the COVID-19 crisis and subsequent UK lockdown, the government has announced a temporary adjustment to VAT rates for the hospitality, hotel and holiday accommodation sector from 15 July 2020 to 12 January 2021.