Good news for the catering and holiday accommodation sectors. HMRC have finally updated their flat rate percentages for the businesses mostly affected by the Coronavirus pandemic.
Reduced rates will apply from 15 July 2020 to 12 January 2021.
- Catering services including restaurants and takeaways rate changed from 12.5% to 4.5%
- Hotel or holiday accommodation from 10% to 0%
- Pubs from 6.5% to 1%
The guidance can be found here: