Today Rishi Sunak, Chancellor, announced plans to reduce the VAT on Food, Accomodations and Attractions from 20% to 5% with effect from 15th July 2020 for sales up to 12th January 2021.

For those affected by this announcement, we would encourage everyone to confirm that their till systems can accomodate the change from next week to ensure that VAT returns are accurately calculated with immediate effect. The price list for your customers should also be reviewed to ensure that you can take maximum advantage of this incentive.