The case for a Reduced Rate of VAT for Hospitality & Tourism

In the 41 years since VAT was introduced, it has gone from gone from raising £1.5bn per annum to over £100bn. In 1973, upon its introduction, it was set at 10% and now stands at double that. As the name suggests, the idea of VAT (Value Added Tax) is to tax the value businesses add […]

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