We've got a full guide on all of the companies that have introduced the VAT cut, here. Value added tax, or VAT, is the tax you have to pay when you buy goods or services. When does the tax cut start? (Image: Getty)The latest tax cut will kick in on Wednesday, July 15 and run until January 12, 2021. In 2008, following the financial crash, the Government introduced a 12-month temporary cut on the rate of VAT to 15%.

Source: Daily Mirror July 15, 2020 11:08 UTC