VAT: reduced rate for hospitality | how to get your EPOS solution updated
On 8 July 2020, the government announced that it would introduce some welcome news, with temporary measures to stimulate consumer demand and get businesses impacted by the pandemic back up and running again
VAT Rate Cut
VAT will be reduced for hospitality and tourism businesses from 20% to 5% until 12 January 2021. This will start from Wednesday 15 July 2020. The cut applies to food and non-alcoholic drinks as well as accommodation and admission to attractions.
To get your Lolly solution ready for the VAT reduction, we’ve created a simple guide to walk you through the changes. To access your copy, contact our dedicated support team by emailing support@itslolly.com .
Discount For Diners
A new ‘Eat Out to Help Out’ scheme will offer 50% discounts of up to £10 a head for all diners in participating restaurants, cafes and pubs on Mondays, Tuesdays and Wednesdays throughout August. There is no limit on the number of times the discount can be used but it will only apply to non-alcoholic drinks. It can also only be used on dine-in meals and not takeaways.
The Chancellor has said a website will be launched next Monday, through which businesses can register to take part in the scheme. He promised that businesses will be fully reimbursed for the discounts and will receive the funds within five working days.
If you want to update your Lolly solution to apply this discount please contact our dedicated support team by emailing support@itslolly.com and we will advise the best way to put this in place.
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