Change in VAT for the Hospitality and Leisure Sector as of April 1st During the COVID-19 pandemic, the government implemented reduced VAT rates to raise revenue and keep companies afloat. The following industries were affected by the decreased VAT rate: Hospitality Hotels and vacation rentals Specific attractions admissions The original…
Continue ReadingTag: UK VAT
When to register for VAT?
Register VAT taxable turnover One must register your business for VAT if your VAT taxable turnover exceeds the registration threshold. This is currently £85,000. You must register if: 1) at the end of any month, the value of your VAT taxable supplies in the previous 12 months or less is…
Continue Reading