In his statement this lunchtime the Chancellor announced two measures that affect VAT. The temporary reduced rate of 5% that applies to catering, holiday accommodation and visitor attractions has been extended to 31 March 2021. Businesses that have deferred a VAT...
It is quite common for suppliers to charge a fee where the customer wishes to cancel a contract or terminate a contract early. In these cases HMRC’s guidance was that these fees were generally outside the scope of VAT as they were a form of compensation for the...
