VAT Change 01.01.10

[Yve_Clark]

Reminder that the standard rate of VAT reverts back to 17.5% on 1st January 2010:

 

HM Revenue & Customs: Increase in the standard VAT rate

[skyhuck]

Apparently you can raise an invoice now, at 15% VAT and complete the work within the next 6 months, BUT YOU would have to pay the VAT as soon as its due, based on the invoice date.

[Stephen Blair]

does the firewood vat still stay at 5%??

[Yve_Clark]

The 'reduced rate' was never altered, so it will still be 5%, unless Mr Darling has something up his sleeve for that one

[Stephen Blair]

hopefully i can get away from Vat this year, it would really help with my domestic jobs. I will stay with it until i settle on what kit to keep. ps i sold my grab yvonne.

[Acorn Milling Ltd]

does the firewood vat still stay at 5%??

Yes it does, it is only vat that is currently charged at 15% will change to 17.5% at midnight on the 31st December 2009.

[Yve_Clark]

hey, good news re grab SWB!

 

The increase in the standard vat rate means that the non-vat registered people have to find an extra 2.5% when buying kit.

[Stephen Blair]

cheers, thats the reason i went vat years ago, it was for buying kit.

[dandkgroundcare]

well someting has to pay for the robbing gits........sorry mp's expenses

[Steve Bullman]

cheers, thats the reason i went vat years ago, it was for buying kit.

 

are you thinking about de-registering dave? i heard people get stitched up big time doing that, having to repay loads of vat or kit bought in the past etc?