Government grants pubs extension for VAT changeover
4 November, 2009
Treasury confirms that changes do not have to take effect while pubs are still open on New Year's Eve
Pubs will be allowed to delay changing to the new VAT rate until they close on New Year’s Eve, the government has confirmed.
The Treasury said pubs can continue trading with the 15 per cent VAT rate until they close or until 6am on New Year’s Day – whichever is earlier.
Financial Secretary to the Treasury, MP Stephen Timms said: “New Year’s Eve celebrations are a vital source of income for many in the service sector.
“The government recognises that it would be very difficult for them to make the necessary changes to account for VAT at 17.5 per cent immediately after midnight.”
To find out more about the changing VAT rate visit: http://tinyurl.com/nbzgcv
Readers' comments
Why thankyou Mr Brown WOW a few extra hours what a treat!!! did you seriously think anyone operating in this sector was going to do anything different anyway?