Reduced rate for tourism and hospitality extended
The VAT reduced rate for tourism and hospitality has been extended to 31 March 2021. More information about the extension can be found on the gov.uk website.
Quarterly payment deferral
The VAT payments deferral scheme ended on 30 June 2020. However, businesses who deferred VAT due from 20 March to 30 June 2020 will now have the option to pay in smaller payments over a longer period.
Instead of paying the full amount by the end of March 2021, you can make smaller payments up to the end of March 2022, interest free.
More information and guidance is available here.
Reduced rate for hospitality, holiday accommodation and attractions
VAT registered businesses can check if they can temporarily reduce the rate of VAT on supplies relating to hospitality, accommodation, or admission to certain attractions here. The temporary reduced rate will apply to supplies that are made between 15 July 2020 and 12 January 2021.