“With the temporary VAT reduction of 5% coming to an end on 30 September 2021, and replaced with a transitional rate of 12.5% until 31 March 2022, it is important that your booking and till systems are set up correctly.
You need to also be mindful of the additional accounting challenges if you receive payments or issue invoices that straddle the change in VAT rates.”
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Chartered Accountants
