VAT slashed to 5% on summer attractions in chancellor’s cost-of-living plan
Chancellor Rachel Reeves has announced a temporary VAT reduction on summer attraction tickets from 20% to 5%. This measure aims to alleviate the financial burden on families during the cost-of-living crisis exacerbated by the Iran war. The VAT cut will apply to various attractions and children's meals from June 25 to September 1 across the UK.
- ▪The VAT cut will apply to ticket prices for theme parks, zoos, and museums.
- ▪Children's tickets for cinemas, concerts, and soft play will also benefit from the reduced VAT rate.
- ▪The initiative is part of a broader package estimated to cost around £300 million.
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