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End of 12.5% Temporary VAT Rate

07.04.2022

Business

End of 12.5% Temporary VAT Rate

 

The hospitality, holiday accommodation, and attraction industries benefited from reduced VAT rates during the pandemic, with the chancellor first announcing a reduction to 5% which was then increased to 12.5%.

 

This reduction in rate has now ceased, as of 31 March 2022.

 

The rate will therefore go back to the standard VAT rate of 20% from 1 April 2022.

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