Covid-19 : Business Support 09.07.20 – Update 40
VAT: reduced rate for hospitality, holiday accommodation and attractions
In an urgent response to the COVID-19 pandemic to support businesses severely affected by forced closures and social distancing measures, yesterday it was announced that VAT registered businesses will be allowed to apply a temporary 5% reduced rate of VAT to certain supplies relating to:
- hotel and holiday accommodation
- admissions to certain attractions
The temporary reduced rate will apply to supplies that are made between 15th July 2020 and 12th January 2021.
Additional guidance in respect of the vat reduction has been released today and is summarised click here.