VAT reduced to 5% until Jan 2021
The Government has reduced VAT on food, drink to help give the industry a boost in consumer demand.
Small and local pubs, restaurants, hotels, and attractions are to charge less VAT - dropping from 20% to 5% for six months to Jan 2021. The cut applies to food and non-alcoholic drinks.
With Dines mobile ordering, we've made changing applicable items to 5% VAT quick and easy, so you don't need to worry about complicated changes to system settings or figuring out how to get the right numbers to give to your accountants.
Implementing the VAT changes
To help you implement these changes quickly, we have updated our menu builder to let you change the VAT rate from 20% to 5% on applicable items. Here are the three short steps it takes to implement the new lower rate of VAT on applicable Products in your Inventory:
Open the menu builder
Open your Dashboard and navigate to the 'Inventory' tab. Then select a Product that is applicable for the reduced VAT rate.
Select the 5% rate
You can then adjust the VAT rate on Collection (Takeaway), and on Premises (Eat in) via a dropdown menu.
Click 'Update' on the top right corner of the Product editor menu. The VAT rate changes will apply instantly!
Handle lower VAT with ease
The government has reduced VAT to help your business thrive in these difficult times - don't make your life difficult with products that aren't built to handle these changes.
Dines makes it easier to run your business.