VAT reduction on tourism and hospitality extended to 5th April 2021
The Cut Tourism VAT Campaign heartily welcomes the Chancellor’s announcement that the reduction in VAT to 5% on visitor accommodation, hospitality and attractions is being extended to the end of the financial year.
The long-term benefits of reduced VAT on tourism and hospitality services has long been proven, as evidenced not least by the fact that EVERY other country in Europe does it (except Denmark which is the ONLY country with no reduced rates).
The Campaign urges the Government to bite the bullet and make the reduction permanent. Research by the CTV Campaign demonstrates clearly that a short-term reduction in VAT has limited impact. Operators will only invest in new, expanded and extended facilities if they know the VAT reduction is permanent.
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