Don’t Forget The VAT Rate Change!

Ray Stewart Bookkeeping, Business, General, Tax Matters, VAT Leave a Comment

Just 24 hours (and a few minutes) to go until the VAT rate changes from 17.5% to 15%.

Make sure you have changed your website settings, ebay settings, bookkeeping settings, spreadsheet settings – even your calculator settings to reflect the new rate.

The new rate is 15%. When you are calculating the VAT amount in a total, such as a petrol receipt, you now need to use the fraction 3/23, or if you want the VAT exclusive amount the fraction you need is 20/23.

It remains to be seen if such a minute change will have any real effect on spending habits.

Good luck with your christmas campaigns.

Please feel free to email me if you want a little critique or help with your copy in the run up to christmas!

Seasons greetings to you all!


Ray Stewart
I am a qualified Certified Practising Accountant having passed my final exams way back in 1981. I actually can’t believe that was 37 years ago!! Anyway, I am now in my 60’s and I have been running my own business since May 1983. And before you ask, no, I have never regretted a moment of it! Part of the membership requirements of my professional body now dictate that I spend quite a lot of time on “CPD” - continuing professional education (one of their better ideas) - and over the last two years I decided to study business growth and marketing. I have learnt such a lot and that knowledge has radically changed my old “accountants” approach to business. It has made such a difference to the way I work and operate I feel that I just have to pass on this knowledge. It is simply too powerful to hold back!! - but I will try and do it in simple terms rather than expecting you to spend hours, as I had to, working through the difficult language that trainers seem to use to pass on their concepts. I hope you find the blog a useful resource and interesting place to visit as the months pass. I will do my best to keep up the flow - but if there are any topics you would like me to cover, then please let me know. Ray Stewart
Ray Stewart
Ray Stewart

Latest posts by Ray Stewart (see all)

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.