This guide is for changing the Itemised Taxes configuration in Inn Style
The Chancellor has recently announced that the reduced rate hospitality VAT will continue at 5% until 30th September 2021 and a new rate of 12.5% will then continue until March 31st 2022.
To modify any existing reservations VAT calculations and to ensure any new reservations are also correctly assigned the appropriate VAT rate for the period of guests staying, please follow the steps below: There is a handy video at the end for further reassurance of the changes you are making.
Click on ACCOMMODATION>TAXES - then click on EDIT
2. Change the End Date to 1st OCTOBER 2021 leave the '5' as it is.
3. then CLICK ON + ADD a Tax Period
Now add 1st October 2021 into the Start Date and 1st April 2022 in the End Date -then insert 12.5 into the percent box
4. then TICK the box 'update all past and future booking and Bill item data' to refresh any VAT rates for future reservations already made. NB: If you use different VAT accounting periods and have already declared VAT on payments already made you may not wish to complete this step.
5. Then click on SAVE TAX at the bottom of the page - Your new VAT Tax Periods will now all be set.
Click on the Video here to see how these changes will look.
If the screens above do not look like your Inn Style account, please contact support using the chat facility.
We appreciate that not all customers will be using itemised taxes or indeed any tax features - If you do not know whether this will affect you, we recommend consulting your accountant/tax specialist.