reduced rate VAT scheme

Question asked by Paula Richards 5 months 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

1 Reply

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.

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are