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Dickens
Sep 14, 2020 11:09 AM UTC
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Re. Quickbooks Online, how to claim the reduced 5% VAT on Accommodation costs during Covid-19

Hi, how do you include the reduced 5% VAT included in Accommodation costs during this time of Covid-19?

I also need to retain the standard 20% VAT which applies to materials and fuel and other costs.

I printed off a page via Quickbooks that outlined the subject, however I would prefer some clear advice from a Quickbooks Online advisor.  Thank you.

GeorgiaCAnswer
Sep 14, 2020 2:20 PM UTC

Hi Dickens, 

 

QuickBooks Online has a default 5% VAT code which you can use on your accommodation expenses - if you don't already have this enabled, you can switch this on by going to Taxes > Edit VAT > Edit Rates > Select the small cogwheel above 'action' > Tick 'include inactive' > Switch on the 5.0% R code. 

 

Please get back to us below if you have any questions 🙂

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2 replies

GeorgiaCAnswer
Sep 14, 2020 2:20 PM UTC

Hi Dickens, 

 

QuickBooks Online has a default 5% VAT code which you can use on your accommodation expenses - if you don't already have this enabled, you can switch this on by going to Taxes > Edit VAT > Edit Rates > Select the small cogwheel above 'action' > Tick 'include inactive' > Switch on the 5.0% R code. 

 

Please get back to us below if you have any questions 🙂

DickensAuthor
Sep 14, 2020 2:42 PM UTC

Thank you GeorgiaC for your advice re. Quickbooks Online question to claim the reduced 5% VAT on Accommodation.  I will follow your advice and select the 5% option in Quickbooks Online. Many thanks.

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