The hospitality sector, until the 30 September, is still able to benefit from the lower 5% VAT rate brought in as a result of the impact of the pandemic. Rather than immediately return back to the normal Standard VAT rate – currently 20% here in the UK – the Spring Budget saw a stepped process announced with the VAT rate on specified supplies in the sector moving up initially to a 12.5% VAT rate with effect from the 1 October 2021. This 12.5% VAT rate will apply until the 31 March 2022 when the rate will return to the 20% VAT treatment.
Source: centurionvat.com
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