UK VAT Changes from 20% to 5% for Tourism and Hospitality Sectors (08/07/2020)

In today’s summer statement, the UK’s Chancellor said he plans to change UK VAT for the hospitality and tourism sectors from 20% to 5% with effect from Wednesday 15th July 2020 until Tuesday 12th January 2021. Any businesses that buy and sell food, provide accommodation or manage attractions will be affected by the change. We’ll publish more on this topic … Read More

Option to defer paying VAT ends on 30‌‌ June 2020

If, due to COVID-19, businesses could not afford to pay their VAT, HMRC offered a deferral without interest or penalties, meaning although the VAT return still needed to be filed, any VAT due for payment between 20 March 2020 and 30 June 2020 could be deferred until 31 March 2021. To do this, any business who had a Direct Debit … Read More