This is a reminder the reduced VAT rate of 5% is due to increase to 12.5% with effect from 1st October 2021.
Please keep your relevant business records to 30th September, and from 1st October separate so that we can identify sales and expenses affected either side of this date.
This applies if you charge VAT or incur business expenses which you reclaim VAT on, in relation to:
- Provision of Hot Food
- Hotel/holiday accommodation in relation to business trips
For full guidance please follows these links:
- Main rules in relation to reduction of VAT rate
- Rules specifically in relation to hot food