- Auditel Consultant:
- Jack Pokoj
VAT Rate Change on 31 December 2009
12 May 2009 | Filed under: FinanceThe standard rate of VAT will increase from 15% to 17.5 % on the 31 December 2009. In practice the rules which govern rate changes mean that a rise in rate is likely to create more issues for a business than a VAT rate fall. There are also more opportunities. HMRC have recently released their ‘anti forestalling’ measures which prevent pre supplies at the lower VAT rate. These rules are more generous that many expected and will not apply to supplies of less than £100,000. It follows there will be scope for bringing the date of supply forward to benefit from the lower VAT rate.
