VAT changes back to 17.5%

The New Year is fast approaching and Gladstone would like to take the opportunity to remind our UK clients that the VAT rate is set to change from 15% to 17.5% on the 1st January 2010. Further details of the VAT change can be found on the HM Customs and revenue website, please click here.

There are a number of considerations, which have been listed below;

• Modifying the standard tax code to affect sales raised on the date of the tax rate change
• Reverting to a previous tax rate and replacing the 15% code created for the 1st December 2008
• Increasing prices to reflect the increase in VAT

To assist you with these considerations and their impact on your business please email support@gladstonemrm.com for documentation of these topics.

If you would like data services to assist you further, please contact us. This activity would be chargeable.

9 November 2009