Keeping you up to date with the latest news and happenings in the worlds of accounting, tax and insolvency
New reduced rate of VAT for hospitality and leisure
New reduced rate of VAT for hospitality and leisure The hospitality and leisure industry were particularly hard hit by the effects of the Covid-19 pandemic and associated lockdowns. To help the industry recover they benefitted from a reduced rate of VAT of 5% from 15 July ...
Reduced rate of VAT To help the hospitality and leisure industry recover from the impact of the first national lockdown, a reduced rate of VAT of 5% was introduced for a limited period from 15 July 2020. The reduced rate of VAT was originally to apply until 12 January 202...
Leaving the VAT Flat Rate Scheme
Leaving the VAT Flat Rate Scheme The VAT Flat rate scheme is a simplified scheme for smaller businesses. Under the flat rate scheme, VAT-registered traders pay a fixed percentage of their VAT inclusive turnover to HM...
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