UK Reduces VATs on Goods in Hospitality Sector
The United Kingdom announced a temporary reduced value-added tax rate for certain supplies in the hospitality and tourism sector to mitigate the impacts of the COVID-19 pandemic, KPMG said in a July 10 post. The measure, effective July 15 to…
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Jan. 12, 2021, will reduce VAT from 20% to 5% for certain food and nonalcoholic drinks served in restaurants, pubs, bars, cafes and “similar premises” across the U.K., KPMG said. The reduced VAT also applies to take-out food and drinks from those suppliers, and to U.K. hotel accommodations and admission to “attractions” across the U.K.