News

News industry set for £50m-a-year boost from VAT cut on digital publications

27th May 2020
The UK’s newspaper and magazine industry stands to be at least £50m-a-year better off after a Government move to cut VAT for digital publications, research by Press Gazette suggests.

Government has taken the decision to make e-publications and online subscriptions zero-rated for the tax.

The cut was introduced on 1 May – having previously been scheduled to come into effect on 1 December – to help publishers cope with the coronavirus pandemic. The industry has long argued that digital news, liked printed newspapers, should be zero-rated for VAT.

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(Headline reproduced courtesy of Press Gazette article dated 26th May 2020)

 

 

 

 

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