New VAT rate for hospitality and leisure

New VAT rate for hospitality and leisure

To help the hospitality and leisure industries recover from the impact of the COVID-19 pandemic and associated lockdowns, a reduced rate of VAT of 5% applied from 15 July 2020 until 30 September 2021. This rate has now come to an end, and a new reduced rate of 12.5%...
Budget highlights

Budget highlights

The Chancellor presented his Autumn Budget and Spending Review on 27 October 2021. Some of the highlights are discussed below.   Income tax rates and thresholds The rates and thresholds applying for 2022/23 were confirmed.   Personal allowance As previously...