July 2020 - VAT Rate Reduction On Hot Food, Holiday Accommodation and Attractions

On 8th July 2020, the UK government announced a reduction in the rate of VAT on sales of any eat-in or hot takeaway food and drinks from restaurants, cafes and pubs, excluding alcohol.

This VAT reduction also applies to all holiday accommodation in hotels, B&Bs, campsites and caravan sites, as well as attractions like cinemas, theme parks and zoos. A new temporary rate of 5% will be applied for all relevant sales from 15th July 2020 until 12th January 2021.

We have published an axis diplomat 2018 Accounts Support Note with advice on managing the change of rate within the Stock Ledger in addition to guidance on managing existing orders and axis vMerchant websites.

Discover more: https://www.axisfirst.co.uk/documentation/July-2020-VAT-Rate-Reduction-On-Hot-Food-Holiday-Accommodation-and-Attractions/articles/17158