VAT Rise

[Tom D]

Reading the boots thread reminded me, with january fast approaching and already a couple of jobs booked in, does anyone know the official line on when the rate increases?

 

I.E. on jobs done / invoiced after the 1st? or jobs booked / ordered after the first?

 

Could you invoice in advance at 15% and complete the work in the new year?

 

It makes a £25 difference on a £1000 job so people are going to start asking for jobs to be done before crimbo before long,

[ukminch]

Fairly sure it's all based on the invoice date.

 

R

[Stephen Blair]

i wouldnt do any back dating invoice favours for tight customers tom if i was spending a grand then whats another 25 quid. If you have work booked for next year then you must be sought after mate so if you get mucked about by wingy customers i am sure you have plenty more queueing up behind them:thumbup1:

 

it will only mess up your cash flow and also if you make their invoice up early you have no comeback if the job gets any snags along the way. just a thought mate

[Yve_Clark]

Rate change is 1 Jan 2010. Any work you do or goods purchased before that date will be at 15%, anything after 17.5%.

 

This might be a useful link:

 

HMRC VAT Rate Change 01.01.10

 

(Didn't that rate change really boost the economy?! )