Blog
15th July 2020 | 1 min read
The VAT rate cut and your Sage solution
The Government announced a temporary reduced VAT rate for hospitality, holiday accommodation and attractions in the UK as part of the Chancellor’s summer statement.
The reduction will see VAT reduce from 20% to 5% and comes into effect today, 15th July 2020, until 12th January 2021.
If this change affects your business, you will need to understand how to make the relevant changes within Sage 200, Sage Line 500, Sage 1000 and Sage X3.
To help you to make the adjustments, the Datel team has created a help sheet for each product and these are available to download here:
Sage has also created a range of online tools to help you and can be found here:
https://www.sage.com/en-gb/cp/vat-update/
Further advice can be found on the Gov.uk website here:
https://www.gov.uk/guidance/vat-reduced-rate-for-hospitality-holiday-accommodation-and-attractions
If you require any assistance with making VAT rate changes within your Sage system, please get in touch. We will be happy to advise you on the Sage system changes you need to make as part of our Helping Hand Service. Call 01925 838 555 or email hotdesk@datelgroup.com.
