As you are no doubt aware the standard rate of VAT is set to revert to 17.5% from 15% on 1 January 2010.

For any sales of standard rated goods or services that take place on or after 1 January 2010 businesses should charge VAT at the new rate of 17.5%.

Please click on the link to read about how to adapt to these changes. 

What ever type of business you are I hope our update will provide you some guidance on the VAT rate changes. If you would like to discuss this further then please contact your relevant tax partner or email tax@menzies.co.uk.