Good news for the catering and holiday accommodation sectors
HMRC have finally updated their VAT flat rate percentages for the businesses mostly affected by the Coronavirus pandemic.
- Reduced rates will apply from 15th July 2020 to 12th January 2021.
- Catering services including restaurants and takeaways rate changed from 12.5% to 4.5%
- Hotel or holiday accommodation from 10% to 0%
- Pubs from 6.5% to 1%
The guidance can be found here: