Changes to the applicable VAT rates were recently announced by the Government. The standard rate of VAT to be charged has been reduced from 23% to 21%. This has effect for all invoices issued and dated 1 September 2020 or after. This change is intended to be temporary and the rate should revert to 23% for invoices issued on or after 1 March 2021.
Please ensure that you apply the correct VAT rate to your invoices. You should also check all invoices received to ensure that the correct VAT rate is being applied to services received by you and that you are not over-charged.
Please get in touch if any issues.