VAT slashed for kids' activities this summer

There's some good news for parents this summer, with a 15 per cent cut in VAT on family activities.

The UK announced the move - which will run from Thursday, June 25 until Tuesday, September 1 - earlier this week, and the Isle of Man is following suit under our VAT agreement with Westminster.

VAT will be slashed from 20 per cent to just five per cent on activities like dining out, cinemas, theatres, soft play centres, museums and wildlife parks.

It's part of moves to boost the hospitality industry.