The new VAT rate of GB TEMP HOSP CATERING will be available in One Source from Monday 11 October 2021. Users can select this new temporary VAT rate if applicable when entering invoices and credit notes onto Accounts Payable or raising invoices via the IRF invoice creation for Accounts Receivable.
This reduced rate of 12.5% only applies to:
- Food and non-alcoholic beverages sold for on-premises consumption, for example, in restaurants, cafes and pubs
- Hot takeaway food and hot takeaway non-alcoholic beverages
- Sleeping accommodation in hotels or similar establishments, holiday accommodation, pitch fees for caravans and tents, and associated facilities
- Admissions to the following attractions:
- Amusement parks
- Similar cultural events and facilities
On 1 April 2022 the VAT rate will revert back to 20%.
Further information can be found in the HMRC guidance on the following link: VAT:reduced rate for hospitality, holiday accommodation and attractions - GOV.UK (www.gov.uk)
If you have any queries relating to the above please contact the following:
Accounts Payable & Accounts receivable: Entering invoices/ Raising invoices – Contact Lindsey Loverock on 01922 654520 firstname.lastname@example.org or on teams
VAT relates queries: Contact Robert Page 01922 650317 email@example.com or on teams