Tag: VAT

What is VAT and how does it work?

Image copyright Getty Images Chancellor Rishi Sunak is cutting the rate of value added tax (VAT) on hospitality and tourism from 20% to 5%, from 15 July 2020 to 12 January 2021. The cut applies to food and non-alcoholic drinks as well as accommodation and admission to attractions across the UK. Mr Sunak said the move is to “get the… Read more →