If you operate a business relating to hospitality, holiday accommodation or the operation of certain types of attraction, then it is important to remember that the reduced rate of VAT of 12.5% is only applied up to and including 31 March 2022.
Income received after 1 April requires VAT to be accounted for at 20%; businesses in these sectors need to ensure that their tills and accounting software are updated for the change on 1 April 2022.
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