VAT Update for hospitality

VAT UPDATE
FOR HOSPITALITY


As announced in the budget, the government will be extending the temporary VAT reduced flat rate of 5% until 30 September 2021.


Other changes include a new reduced tax rate of 12.5% will be introduced on 1 October 2021, which will apply for another six months, until 31 March 2022.


Here are the key dates and VAT rates announced:


From 8 July 2020 to 30 September 2021     
VAT Rate: 5%


From 1 October 2021 to 31 March 2022     
VAT Rate: 12.5%


From 1 April, 2022

VAT Rate: 20%



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