News

17th July 2020

HMRC announce reduced VAT Flat Rate Scheme percentages

Further to our email on Tuesday this week, HMRC have now announced the reduced VAT percentages for businesses on the Flat Rate Scheme.

Reduced rates will apply from 15 July 2020 to 12 January 2021.

  • Catering services including restaurants and takeaways rate reduced from 12.5% to 4.5%

  • Hotel or holiday accommodation from 10% to 0%

  • Pubs from 6.5% to 1%

Further guidance can be found via the government link:
https://www.gov.uk/vat-flat-rate-scheme/how-much-you-pay.

As always our team are on hand should you have any further queries