Preparing for 12.5% hospitality vat in October 2021

Accounting
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Hi. We’re a hospitality business charging the reduced 5% Vat rate which rises to 12.5% on 1st October 2021. Does anyone know if you can add your own Vat rate to QF? Currently it only offers 0, 5% and 20% as far as I can see. Thanks!

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Hi @Mike_Agate

Is this when you’re creating an invoice?

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Hi. It’ll apply to all non-alcohol hospitality sales through the cash register and invoices. Following Covid, the chancellor reduced the hospitality vat rate to 5% (which is already an option), but it rises to 12.5% as an interim rate on 1st October on the way back to 20% next year.

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Hi @Mike_Agate,

So you want to be able to change the % in both the cash register tool and the invoices?

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I think so! Not just me, it’ll be the temporary reduced rate (non-alcohol) for all UK hospitality businesses between 1st October 2021 and 31 March 2022.

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Hi @Mike_Agate

I’m sorry for the delay in coming back to you.

You can add your own custom VAT rate by going to Account Settings > Advanced Features. This won’t be set as the default on the account, but you can select it when creating invoices or using the cash register tool.

I hope this helps, but if you have any further questions, please don’t hesitate to ask.

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