Whatever may have been on your VAT wish list for this Budget I’d guess that right now you’ll be feeling a little disappointed.
With the UK now outside of the EU many had been hoping for a flexing of freedoms to increase the use of reduced VAT rates or add more into the Zero-rating Reliefs. It was not to be. Calls to cut VAT on domestic fuel costs from the current 5% level went unheeded as did any extension of time period applying for the lower 12.5% VAT rate for the Hospitality Sector which will end on the 31 March 2022.
What did the Autumn statement hold from the VAT perspective then?
Source: centurionvat.com
