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VAT rises to 20% in the UK for the hospitality trade this week

VAT rises to 20% in the UK for the hospitality trade this week.

The VAT rate has been used by the UK government as a way to help the hospitality sector. During the darkest days of the Covid pandemic it was lowered to 5% in July 2020. In October 2021 it rose to 12.5% and on the 24th March 2022 it returned to the pre-pandemic rate of 20%.