New VAT rate change due 1st January 2010
Are you aware of the change to the VAT rate due on 1st January 2010, we have heard rumours that the rate would be increased to 18.5% or even 22% after confirmation from the HMRC this rate will revert back to it's original 17.5%. This change affects any VAT registered business that sells or purchases goods or services that are subject to the standard rate of VAT. You charge VAT at the rate of 17.5% on any sales of standard rated goods or services that you make on or after 1st January 2010.
