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VAT Changes from 4th January 2011

The standard rate of VAT will increase to 20 per cent on 4 January 2011. Zero rated supplies, such as basic foodstuffs, children's clothing and books; exempt supplies, such as education and health; and supplies subject to VAT at the reduced 5 per cent rate, such as domestic fuel and power, are not affected by this change. There are no changes to the Cash Accounting or Annual Accounting Scheme. If you are worried about how this will affect you please do not hesitate to contact us.

Posted on Dec 15, 2010 - 07:15 PM
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