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<p>The temporary VAT reduction is designed to support businesses and jobs in the tourism
and hospitality industry. In light of the COVID-19 outbreak, the Chancellor has announced
a range of measures to help individuals and businesses through the crisis, including
grants, loans and relief from business rates worth more than £300 billion.</p><p>
</p><p>All eligible businesses in the retail, hospitality and leisure sectors will
pay no business rates in England for 12 months from 1 April 2020 and the Government
deferred Value Added Tax (VAT) payments so UK VAT-registered businesses did not need
to pay any VAT due with VAT returns from 20 March through to the end of June 2020,
until 31 March 2021.</p><p> </p><p>A range of further measures has been made available.
This includes the Coronavirus Business Interruption Loan Scheme and the Coronavirus
Job Retention Scheme to help firms keep people in employment. The Bounce Back Loan
Scheme has also been launched to help small businesses during the COVID-19 outbreak.</p><p>
</p><p>The Government will continue to consider how best to support the economic recovery.</p>
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