Symptom
A temporary VAT reduction for the hospitality sector has been introduced for the United Kingdom.
This is described in the What's New in SAP Business ByDesign - section.
- What's New in Financial Management
- Country/Region-Specific Changes
- United Kingdom
- Reduced Tax Rate
For United Kingdom, a reduced rate of VAT at 12.5% has now been introduced for the hospitality sector, hotel accommodation, and admissions to certain attractions. This new rate will be applicable from 1 October 2021 and will be valid until 31 March 2022.
Shipped changes contain the delivery of a new Tax Rate Type 4 (Rate: 12.5 %).
Respective custom tax codes will have to be set up in the system in order to to facilitate the application of reduced rates and reporting to tax authorities.
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Environment
SAP Business ByDesign
Product
Keywords
VAT Great Britain Temporary VAT Change Hospitaltiy , KBA , SRD-FIN-GLO-TAX , GLO - Tax Declaration , Problem
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