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From 1 October 2021 to 31 March 2022, the temporary reduced VAT rate for the hospitality sector will be increased from 5% to 12.5% and will then end so that affected supplies revert to 20% VAT from 1 April 2022. VAT registered businesses in the hospitality industry will need to ensure that their tills and… Read more
Major changes to the VAT scheme for construction which HMRC are imposing will begin on 1st March 2021. The reverse charge means that the customer receiving the service must pay the VAT to HMRC instead of the supplier. In turn the customer can recover the VAT, subject to the normal rules for VAT recovery. It is… Read more
The Chancellor’s Summer Statement on 8 July was a bit of good news for some of the sectors that have been hardest hit by COVID-19. Rishi Sunak announced that from 15 July 2020 until 12 January 2021 certain supplies of hospitality, accommodation and admission to attractions will be subject to VAT at 5% rather than… Read more
