“On 8 July 2020, the government announced that it would introduce a temporary 5% reduced rate of VAT for certain supplies of hospitality, hotel and holiday accommodation, and admissions to certain attractions.
This cut in the VAT rate from the standard rate of 20% will have effect from 15 July 2020 to 12 January 2021.”
For more information and to see whether this is applicable to your supplies and services, please view www.gov.uk
In accordance with the temporary rates, we’ve made some changes to our Invoicing/VAT receipt tool, allowing you to apply either the standard or reduced VAT rates to the applicable supplies – you can find all the steps and further details on the Invoicing tool and these changes on this handy guide.
These changes will be going live within Collins first thing on Thursday 16th July 2020
We hope this all helps and if you any questions, please feel free to contact us on email@example.com
Team Collins x