Summer Statement VAT changes – What you need to know

Following the Chancellor’s summer statement announcement that from the 15th July 2020 to 12th January 2021, the rate of 5% of VAT would apply to supplies made in the hospitality, accommodation and attractions sector.

More details have now been released on these changes and what they will mean for businesses in this sector.

Garbutt + Elliott’s award winning tax team have put together the following summary to help you work through the detail, you can access our document here.

Please contact our team if you would like our help to understand these changes and how they will affect your business – support@garbutt-elliott.co.uk