reduced rate VAT scheme

Question asked by Paula Richards 5 years ago

I am on a flat rate scheme in the hospitality industry. Since Rishi announced VAT reductions on certain sales how do I set up 2 different flat rates on the system for my returns. I've tried but if I set up a new rate it automatically deletes the original rate......very confused

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Hi Paula,

You only need to add the new reduced rate scheme. This will replace the old scheme and you can continue until the rate reverts then you can add a new scheme with the old rate. You do not need two rates at the same time.

All the best,

Mohamed.

Best answer
5 years ago

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