UK extends VAT reduction for tourism and hospitality

The VAT reduction for tourism and hotel services in UK, which would expire on January 12th, has been extended until the end of March.

VAT on tourism and hospitality services was reduced from 20% to 5% on 15 July.

In addition to the VAT extension, the UK has also introduced a new wage support scheme for workers in work on shorter hours replacing the furlough scheme that expires on October 31st.

In the new economic plan; there are also some new measures taken for the payment of bank loans and taxes.

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