Government VAT cuts means Camping Holidays in 2020 Cheaper for Brits!
Earlier this week, Chancellor of the Exchequer, Rishi Sunak announced that VAT will be reduced to 5%from 20% for hotels, restaurants, cinemas and other attractions.
He said “VAT on hospitality and tourism is charged at 20%, so I’ve decided for the next six months, to cut VAT on food, accommodation and attractions… Eat-in or hot takeaway food from restaurants, cafes and pubs; accommodation in hotels, B&Bs, campsites and caravan sites; attractions like cinemas, theme parks and zoos; all these and more will see VAT reduced, from next Wednesday until January 12, from 20 per cent to 5 per cent."
With many Brits deciding to postpone their overseas holiday this year due to fear of the virus – a staycation in the UK is likely to be cheaper than ever!
However, if you have a holiday booked already, unfortunately you will not be able to take advantage of the reduced VAT. It is also true that retailers & service providers do not have to pass on the VAT to customers however from speaking to our clients, many are using this to encourage people to return.