From the 15 July 2020 to 12 January 2021 VAT will be reduced to 5% for supplies of food, non-alcoholic drinks, accommodation and admission to attractions.
Effectiveness of VAT cut and meal vouchers will depend on extent to which problem is not enough people to fill restaurants with now very limited capacity, or capacity constraints. Sure to be some of the latter so much of benefit likely to go to business rather than consumer
— Paul Johnson (@PJTheEconomist) July 8, 2020
Thoughts
What should I do in my Xero account?
Photo by Shawn Ang on Unsplash
iZettle update VAT rate instructions
How to update your VAT in your product library:
Updating VAT on multiple products at once:
- Log in to my.izettle.com
- Go to Products > Product library
- Export your entire product library as an excel file by using the export button
- Change the relevant VAT fields in the excel file for as many products you need to
- Upload your your excel file to the product library
- Save your changes
Updating VAT on a per product basis:
- Log in to my.izettle.com
- Go to Products > Product library
- Find the product you want to update in the Product Library
- Click edit
- Select the new VAT amount from the VAT drop down
- Press save