VAT Cut For Hospitality Businesses
VAT cut for hospitality businesses and 50% meal discount for everyone to stimulate restaurant spend.
The Chancellor laid out a plan that includes cutting VAT for hospitality businesses and providing discounts on meals to encourage people to spend in restaurants again.
“VAT will be reduced, from Wednesday 15th July until January 12th 2021, from 20% to 5%,” the Chancellor also announced that the government will give everyone 50% off meals in participating restaurants during August.
“Eat Out to Help Out” and is aimed at getting the hospitality sector moving again.
The discount will go up to £10 per head for adults and children, and apply Monday to Wednesday.