The revised FRS % for Hotels and Accommodation has been reduced to 0%.
If someone is in their first year of VAT registration, does the 1% discount still apply, effectively reducing the FRS rate to -1%?
Replies (3)
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Hmm. Tricky one. The legislation specifies reduce, not deduct. I am not sure that if you reduce 0% by 1 you can infer a negative. Still, no harm in trying.
Hmm. Tricky one. The legislation specifies reduce, not deduct. I am not sure that if you reduce 0% by 1 you can infer a negative. Still, no harm in trying.
Entering the VAT in Box 4 ?