After an extended period of VAT at 5% to help the UK’s hospitality sector recover from the pandemic, VAT on eating out, accommodation and tourist attractions will increase to 12.5% rather than return to the previous 20% rate.
The VAT reduction from 20% to 5% that took effect on 15 July 2020 and was extended twice, is due to end on 30 September 2021.
The new 12.5% rate will be introduced on 1 October 2021 and will be in effect until 31 March 2022.
To get your business ready, you’ll need to make a few changes to your EPOS systems first.
To make it easy, we’ve created simple step-by-step guides to help you quickly add a new VAT level. You can download your system specific guide below to get started:
Don’t forget about our Resource Centre, which is full of useful ‘how to’ guides and videos to help you make the most of your systems. Click here to sign up.
If you have any questions, please email support@cunninghams.co.uk