Tech Bulletin

VAT Changes

HMRC Update

The Chancellor announced at Budget 2021 that the temporary reduced rate of 5% will be extended to 30 September 2021.

From 1 October 2021 the reduced rate for these supplies will be replaced by the introduction of a new reduced rate of VAT of 12.5% which will remain in effect until 31 March 2022.

For more information please visit: Guidance on the temporary reduced rate of VAT for hospitality, holiday accommodation and attractions – GOV.UK (www.gov.uk)

How to…

The below instructions can be followed to change the system VAT rates within Infinity POS. Example shown is how to change VAT rate to 12.5%.