Chancellor Rishi Sunak has announced that the cut in VAT rates for the hospitality sector, which came into force back in July, will be extended until 31 March 2021. It was previously going to end on the 13 January 2021. The cut applies to vat registered organisations that make supplies of hospitality, hotel and holiday accommodation and admission to certain attractions, and their advisers. The rate was originally cut on 8 July 2020, when the…

Revo, the retail property lobby group, is calling on the government to drastically cut the business rates multiplier and cap it at 30%. It comes in response to the UK government’s consultation on business rates reform for England. The current business rates multiplier stands at 51%. The government confirmed in July this year that the next business rates consultation would take place in 2023. If the rate is capped at the suggested 30% it could…