69 days of summer VAT complexity with 5% rate

Greg McNally, managing partner at VITA, examines the complexities of implementing the reduced 5% summer VAT rate on kid’s meals and attractions at short notice with tips and advice on what businesses need to do

The chancellor’s announcement of a temporary 5% VAT rate on children’s meals, family attraction tickets, and cinema and theatre admissions will last for 69 days from 25 June, creating a summer of VAT complexity.

Families will save on zoo trips. Theme park tickets will be cheaper. Soft play just got a little less painful for the wallet. The government is calling it the Great British Summer Savings scheme, but it is not so easy to implement.

Stepping back from the initial announcement and a different picture emerges - one that is considerably less straightforward for the businesses being asked to deliver it.

What the scheme actually covers

Your free features:

Breaking news and expert analysis
Customisable daily newsletters
Six free CPD learning modules each year
Personalised CPD tracker
Top 75 Firms league tables
Regulatory changes
Hardman’s Tax Data

Tax | Q&A: how to apply the 5% summer VAT discount

Tax | Summer Savings tool goes live for complex 5% VAT deal

Tax | Register for webinar on 5% summer VAT rate

Tax | Summer VAT discount for attractions and kids’ meals starts

Tax | Chancellor cuts VAT to 5% for kids’ meals, 10p rise in tax free mileage rate

Navigate

Tax Services

Your free features:

Sign up to Business & Accountancy Daily