Standard VAT rate to return 1st January 2010 - 05-11-20091st January 2010 is fast approaching and businesses will need to adjust back to the standard 17.5% vat rate, after it had been temporarily reduced to 15 per cent on 1 December 2008. For HM Revenue guidance and further information please follow the link: http://www.hmrc.gov.uk/vat/forms-rates/rates/rate-changes.htm For For any sales of standard-rated goods or services that you make on or after 1 January 2010 you must charge VAT at the rate of 17.5 per cent. If you have a cash business and calculate your VAT using the VAT fraction you must revert to the VAT fraction of seven fortysevenths from 1 January 2010. The change only applies to the standard VAT rate. There are no changes to sales that are zero-rated or reduced-rated for VAT. Similarly, there are no changes to the VAT exemptions. Any sales you make at these rates are unaffected by this change. This guide tells you how to account for the change to the standard rate of VAT. It also tells you where you can get further information. | News: Government Confirms Minimum Wage RisesGovernment Confirms Minimum Wage Rises The government has confirmed that the new National Minimum Wage rates, which come into effect on 1 October... Email updatesEnter your email address for the latest information from dbparish. Login |
