questionText: 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
answerText: 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...
heading: Hospitality Industry: VAT