VAT change – Hospitality Sector
Today 15 July 2020 heralds in the tempory reduction of VAT from 20% to 5% to help the hospitality get back on its feet.
As CMOA members are part of the industry, members will need to know if there are any benfits or savings.
Unfortunately the government have not issued any guidelines as to what the new rate of 5% will be applied to. This information is due to be published at the end of July 2020.