Just a quick reminder that the VAT rate increased again today from 15% back to 17.5%. Make sure your bookkeeping program is adjusted to reflect this. If you need any help in adjusting your program please ring me on 0800 047 0731 or use the contact page on the website. To work out the VAT from a total amount, you must use again the fraction 7/47 – an awkward but necessary piece of maths!
I have just been asked about the VAT increase that is due to happen at 00:01 a.m. on the 1st January 2010 back to 17.5% and how it affect Pubs/Restaurants that are hosting a New Year’s Eve party. I thought it a good idea to clarify this point for everybody who may be wondering.
The rate is due to change at that moment, but for publicans/restaurants lucky enough (these days) to enjoy a busy New Year’s Eve party at their Premises,