VAT

15/07/20:

VAT cut kicks in for certain sectors

Standard rate temporarily falls from 20% to 5%.

13/07/20:

UK tax gap drops to record low

More than 95% of tax owed in 2018/19 was collected.

23/06/20:

Javid calls for business taxes to be cut

Temporary tax cuts may be revealed in July.

19/06/20:

Firms urged to reinstate VAT direct debits

The VAT deferral period ends on 30 June 2020.

15/06/20:

Treasury may consider temporary cut to VAT

Pressure on the Chancellor to follow Germany’s lead.

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