M+A Partners HomeBlogEnd of Reduced VAT Rate for Leisure and Hospitality

The rate of VAT to certain supplies relating to hotel and holiday accommodation, hospitality and admission to specific attractions has reverted to its original rate of 20%.

A reduced rate of 5% was introduced by the Government in July 2020, to support the industry during the pandemic, this was then increased to 12.5% on 1 October 2021.

The Flat Rate Scheme (FRS) percentages for hospitality and leisure businesses have also now increased, so if you use FRS do check your relevant percentage. Also be aware that the percentages you apply may change part-way through your VAT period.

Businesses should ensure that they review their systems and transactions to ensure the correct rate of VAT is applied to invoices; payment and receipts; quotes; bank feeds; and products and services.

For any queries relating to VAT for the leisure and hospitality industry, please get in touch with your usual M+A Partners contact, or email mary-anne.sargeant@mapartners.co.uk.

Written by

Mary-Anne Sargeant
Partner
BIO
Mary-Anne joined M+A Partners in 2003 and was made a Partner in the firm in 2006. Mary-Anne and her team are based in our Attleborough office and provide professional accountancy and tax advice for a wide range of clients, from brand new start-ups to well-established family and owner-managed businesses and from private individuals to sole traders, partnerships and corporate clients.

Mary-Anne is a Chartered Tax Adviser and Chartered Accountant and was placed top in the UK when she undertook her Chartered Institute of Tax exams. She is committed to building lasting relationships with clients, based on gaining a clear understanding of their current and future business needs and taxation issues.

With over 20 years’ experience within the profession, Mary-Anne has the knowledge and experience to provide a portfolio of accountancy and taxation services that support the establishment and ongoing development of a business. Working closely with clients to understand their immediate and long-term requirements, she gives knowledgeable advice that caters to each unique set of circumstances.

Mary-Anne provides guidance on all aspects of accountancy and tax, from deciding on the best business structure; making the move to self-employment; setting up a limited company and guiding clients on both how they work as well as their pitfalls; optimising personal and business tax reliefs; assisting with tax planning for private individuals and companies; to of course dealing with the preparation of accounts, tax returns and VAT returns.
EXPERTISE
  • Accounting Services
  • Business Services and Support
  • Business Startups
  • Corporate Taxation
  • Personal Taxation and Private Client
CONTACT
Mary-Anne Sargeant

Mary-Anne Sargeant has been the Partner of our Attleborough office since 2010. Mary-Anne and her team provide professional accountancy and tax advice for a broad spectrum of clients, from brand new start-ups to well established family and owner managed businesses and from private individuals to companies.

Find out more about our Attleborough office here.