The Government has announced that VAT will be cut from 20% to 5% in the hospitality and leisure sector. This cut will be in effect from Wednesday 15th July to Tuesday 12th January 2021.
If you use are a secondary or further education school, primary school who run the system on a school server, or a commercial customer then you may need to update the VAT prices if you qualify for the reducted rate of VAT. Read below how to make this change in FasTrak. Please note- you will need to update the VAT amount and also update the product prices.
1. Log into FasTrak as an "Admin" or "Catering Manager" account.
2. Navigate to "Maintenance" and select "Financial Setup" as the below image:
3. Select the VAT line and update the value from 20.0 to 5. Click Save.
4. Edit your products and/or meal deals:
On any cost which has "The product has VAT applied" click the drop down box, and select the option again. This will update the product with the new VAT amount.
Once the prince has updated click the green tick.
5. Repeat for all products and meal deals with a VAT price.