VAT

The UK Government has announced a temporary reduction in VAT aimed at lowering the cost of family leisure activities during the summer holidays, in response to lobbying from the tourism sector. Our tourism and VAT specialists summarise what you need to know.

VAT Director, Gillian McGill, explains what adjustments you may need to make, this impacts VAT registrations that generate exempt income and that undertake non-business activities.

Grant funding may no longer be treated as outside the scope of VAT following the Colchester Institute ruling. Instead, it could be seen as payment for services, which may affect VAT reliefs and recovery for colleges and other organisations.