Published on: 23 September 2021
British Marine is reminding its members that from 1 October 2021 the reduced rate of value-added tax (VAT) for hospitality and accommodation providers will be replaced by the introduction of the new and increased 12.5% VAT rate. This new rate will then remain in effect until 31 March 2022.
Currently providers of hospitality and accommodation can charge 5% VAT. However, this will now change from the start of October – and members offering these services must make sure they charge the correct 12.5% VAT rate.
Members can find out more by revisiting the guidance published earlier this year.