UK VAT Changes

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Posts: 3
Joined: Fri Jan 24, 2020 12:32 am

The UK have announced a VAT cut on hospitality.

If I amend the rate from 20% in the system to 5%, will the reporting show the different VAT rates for bookings on different dates? Or will it report on all the bookings at 5% (even previous ones?).
Posts: 1148
Joined: Sun Jun 30, 2013 8:44 am

Changed to the VAT rate only apply to bookings which were made after the change was made. You will need to adjust other bookings manually if required.
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