11th December 2020 – Hillmans Weekly Update

11^th December 2020 – Hillmans Weekly Update

Below I have summarised all the main tax related updates we have seen this week.

• Local Restriction Support Grant (For Open Businesses in England)
• Claim a Grant Through The Self Employment Income Support Scheme
• VAT Reduced Rate for Hospitality Extension
• Government Announces £1,000 Christmas Grant for 'Wet-Led Pubs' - England

If you have any queries about this week’s content, or if you need any assistance please do not hesitate to contact me.

I hope you have a good weekend.

Stay safe and well. 

Kind regards,

Steve

Steven Hillman BSc (Hons) ACA

Chartered Accountant

Tel: 01934 444100

https://www.hillmans.co.uk/covid-19-updates 

VAT Reduced Rate for Hospitality Extension

Government guidance has been updated to reflect the extension of the VAT reduced rate for tourism and hospitality from 12th January to 31st March 2021.

The government made an announcement on 8th July 2020 allowing VAT registered businesses to apply a temporary 5% reduced rate of VAT to certain supplies relating to:

• hospitality
• hotel and holiday accommodation
• admissions to certain attractions

The temporary reduced rate will apply to supplies that are made between 15th July 2020 and 31st March 2021.

See: https://www.gov.uk/guidance/vat-reduced-rate-for-hospitality-holiday-accommodation-and-attractions