Harrison Young logo Incorporating Harrison Young

Government urged to consider emergency VAT reduction

The government has again been urged to consider an emergency VAT reduction in order to help businesses once the coronavirus (COVID-19) lockdown ends.

Call 020 7703 7594 or email info@pjtandco.com

The government has again been urged to consider an emergency VAT reduction in order to help businesses once the coronavirus (COVID-19) lockdown ends.

A new report published by think tank Policy Exchange has suggested that reducing the rate of VAT to 15% could help boost consumer spending in the short-term. The current standard rate of VAT is 20%.

The publication of Policy Exchange's report comes following rumours that Chancellor Rishi Sunak is reportedly considering reducing the standard rate of VAT to help tackle the economic fallout caused by the COVID-19 lockdown.

According to reports, the Chancellor is preparing to deliver a 'Summer Statement' in early July, in which he is likely to outline new initiatives on skills and apprenticeships, alongside measures to help boost the UK economy.

Experts have also recommended cutting employer national insurance contributions (NICs) and extending the business rates relief scheme in England and Wales.

About our Team

Our partners have individual specialisms which enable us to provide clients with a first class tailored service

Learn more

Latest news
Contact Details

Please call:
020 7703 7594
020 8767 0151 (HY)

PJT and Co
Chartered Certified Accountants
Accountancy House
90 Walworth Road

London SE1 6SW

Home | Contact us | Site map | Accessibility | Disclaimer | Help |

© 2020 PJT and Co Chartered Certified Accountants. All rights reserved. powered by totalSOLUTION.

We use cookies on this website, you can find more information about cookies here.