Takeaways, cinema tickets, amusement park trips and more fall in price today as VAT is slashed
15 July 2020, 09:02 | Updated: 15 July 2020, 10:17
Chancellor Rishi Sunak's cut in VAT is making it cheaper for families to enjoy days out.
In a bid to help get Britain spending again and the restore the tourism industry across the UK, the Government have announced a cut in tax.
Chancellor Rishi Sunak revealed last week that to help zoos, cinemas, amusement parks and more financially survive the coronavirus pandemic, VAT would be slashed from 20 per cent to 5 per cent across the hospitality sector.
This is part of the Government's £4.1billion plan to boost the tourism sector following months of hotels, bars, and more being forced to close.
The new VAT cut will start from Wednesday – July 15 – and will run for six months.
Which means, from today, a whole host of things just became a lot cheaper for you.
Food and non-alcoholic drinks bought in a bar, restaurant or cafe will see the VAT reduced, as well as hot takeaway food and non-alcoholic takeaway drinks.
Hotels, B&Bs and hostels will also be subject to the VAT cut, alongside pitches for caravans, tents and other similar facilities.
Theatre tickets, fairs, amusement parks, concerts, museums, zoos, cinemas and exhibitions are also included in the tax cut.
It should be noted, however, that the VAT will only apply where businesses decide to pass the discount on.
Some struggling businesses, who have had to decrease customers due to social distancing, or purchase new equipment to keep their customers safe, may not financially be able to pass this cut on.
