Many hospitality venues have been closed for almost a year and are still unable to open under the Covid-19 restrictions. To help them survive this period, the Government has given them a 15% VAT reduction on most sales.
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If your business is not making sales but you are still incurring costs, HMRC may refuse to repay the input VAT on purchases and ask you to cancel your VAT registration voluntarily as there are no business activities.
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