VAT reduced to 15%
VAT reduced to 15%
Well, I guess you’ve noticed that the Government has announced that the VAT rate is to reduce to 15% from Sunday night?
We’ve started to receive questions on how to change our clients’ systems to reflect the new rate, so I thought it would be useful if I circulated a quick email to highlight some of the technical challenges this presents.
What do you need to look out for… ?
Accountancy Software packages such as Sage and QuickBooks need to have an additional VAT code setup. Remember that some of your transactions may span the 1st … Continue Reading