Trade bodies back #KeepVATat5
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Last July, the government temporarily slashed the VAT rate to 5% from the standard rate of 20% to support businesses severely affected by the pandemic. The cut currently applies until 31 March 2021.
#KeepVATat5, initiated by LIVE (Live music Industry Venues & Entertainment), aims to convince the Treasury to extend the VAT rate cut for the next three years and comes ahead of chancellor Rishi Sunak’s hotly-anticipated budget ann