22 September 2021| CATEGORIES: Covid measures, COVID-19, hospitality and tourism, VAT rates| TAGS: Covid measures, hospitality, VAT News
The VAT rate that applies to certain supplies of hospitality, hotel and holiday accommodation, and admission to certain attractions changes on 1 October 2021. The current 5% rate for these supplies will be replaced by the introduction of a new reduced rate of VAT of 12.5% which will remain in effect until 31 March 2022.
1 March 2021| CATEGORIES: Covid measures, VAT| TAGS: Covid measures, VAT
The UK government’s VAT deferral new payment scheme for settling VAT payments deferred between 20 March and 30 June 2020 due to COVID-19 is now open for businesses to voluntarily opt-in.
15 November 2020| CATEGORIES: Covid measures, VAT| TAGS: Covid measures, VAT
HMRC has updated its guidance explaining how to settle VAT payments deferred between 20 March and 30 June 2020 due to COVID-19.
25 September 2020| CATEGORIES: Covid measures, VAT rates| TAGS: Covid measures, VAT rate cut
Following a resurgence in the number of COVID-19 cases in the UK, Rishi Sunak yesterday announced further VAT measures to support the economy in his Winter Economy Plan statement.
Ireland: Temporary VAT rate cut
Ireland has unveiled a Stimulus Plan of tax, loan and spending measures designed to boost the country’s economic recovery from the COVID-19 crisis. The Plan includes a temporary reduction in the Irish standard rate of VAT from 23% to 21%.
5 August 2020| CATEGORIES: Covid measures, VAT rates
UK temporary VAT rate cut for the hospitality and tourism sectors
The UK has implemented a temporary VAT rate cut from 20% to 5% for the hospitality and tourism sectors following the coronavirus crisis, to apply until 12 January 2021. UPDATE: Since this VAT alert was published, the 5% temporary VAT rate was extended to 30 September 2021. In addition, from 1 October 2021 a new temporary reduced VAT rate of 12.5% was introduced (see our blog article "New VAT rate for hospitality and tourism with effect from 1 October 2021" for further information).
15 July 2020| CATEGORIES: Covid measures, VAT rates