VAT on goods and services within the hospitality industry.
From 1st April 2022, the VAT rate on most goods and services within the hospitality industry will increase from 12.5% to 20%, reversing the temporary rates that were put in place in June 2020. This will result in a further uplift in next quarters VAT liability. It is important all software and till systems are updated immediately to take account of this VAT change.
If you have any queries, please do not hesitate to contact your Drummond Laurie contact for further guidance.