Category Archives: VAT

Change of VAT Rate For Hospitality Sector

change of vat rate for hospitality sector oct 2021

If you are running or managing businesses within hospitality sector, this is very important information affecting your business from 01 October 2021. Hotels, restaurants and bars Catering Lodging Food and drink service Event planning Theme parks Travel and tourism In July 2020, during the Covid-19 pandemic period, the Government reduced the Standard VAT rate from […]

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Are You Prepared For Change In VAT Rules?

are you prapared for change in VAT rules?

VAT domestic reverse charge applies 01 March 2021 In the 2017 budget, the Government announced a VAT reverse charge to combat “missing trader” fraud.  The scheme is called VAT reverse Charge and the date of implementation is 01 March 2021. In simple words from 1 March 2021, the domestic VAT reverse charge must be used […]

Making Tax Digital – Are You Ready?

  Many small business owners are still not aware of Making Tax Digital (MTD). From April 2019, VAT registered businesses with turnover over £85,000 will be required to keep a digital record of their VAT transactions, and submit their VAT returns using Making Tax Digital compliant software. As the MTD deadline approaches, here is what […]