Hospitality Industry: VAT — Written Question

Question

Matt Western

Labour — Warwick and Leamington

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of (a) reducing VAT rates on hospitality businesses during the covid-19 pandemic on that sector and (b) reducing VAT to 12.5% on the hospitality sector on the e

Answer

James Murray

VAT is the UK’s third largest tax. It is forecast to raise £180 billion in 2025/26, which funds public services. VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. Exceptions to the standard rate...

ⓘ

This is an extract from the Parliament API. Search the full answer on Parliament.uk (UIN 59808) →