Monday 21st May 10:40 PM
Standard Rate of VAT To Increase
It is proposed to increase the standard rate of VAT from 17.5% to 20% with effect for any supply made on or after 4 January 2011. The rate change does not affect either zero-rated supplies nor those supplies subject to VAT at the 5% reduced rate.
Detailed guidance has been issued by H M Revenue & Customs for businesses on implementing the change.
Links:
Please contact Peter Hogan at Darlington, Nicola Bellerby at Durham or Terry Doyle at York for further information.
Updated 01/07/10
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