VAT Rate Change

I understand from the Chancellor’s latest announcement that VAT is being reduced to 5% on live events.

No one has needed this for the last 10 years, so no one has been trained on it, but - in Monad, when you set the VAT rate on a product, you set not just a number, but you point it at an named rate, and that rate can have rules that tell you not just the VAT rate but when it will change:

I understand that the VAT rate to apply is based on the transaction date, not the performance date, which actually simplifies our logic quite a lot.

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