VAT changes from 1 April 2022: Use of ‘rebated’ red diesel is much more restricted
Written by VAT Partner, Sandy Cochrane The use of ‘rebated’ red diesel (5% VAT) is restricted to a very small number of industry sectors (including agriculture, horticulture, fish farming, forestry and rail transport). HMRC says that businesses within certain sectors (i.e. construction, mining and quarrying, ports, manufacturing haulage for transport refrigeration units on lorries, road […]
VAT changes from 1st April 2022: End of temporarily reduced VAT rate for leisure and hospitality
Written by VAT Partner, Sandy Cochrane The VAT rate has returned to the standard rate, (currently 20%) for the leisure and hospitality sector. In July 2020, VAT was temporarily reduced from 20% to 5% for the hospitality, hotel and leisure sectors, including on the admission charges to certain attractions. This VAT cut was introduced in […]