HMRC has now issued further guidance about the temporary VAT reduction for the tourist and hospitality industry that starts on 15 July. It is vital to not just these industries but also other VAT registered businesses who will need to take care to ensure the correct VAT recovery on the reduced rate suipplies during this period.
The guidance contains the following sections;
Hotels and holiday accommodation
Admission to certain attractions
The flat rate scheme
The tour operators margin scheme
Accounting for supplies that straddle the temporary reduced rate