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VAT Rate change - the standard rate of VAT goes back to 17.5% from 1st January 2010 ,but remember to charge 15% VAT on:
-takings received after 1st Jan, but where the goods were delivered / taken away by customers before 1st Jan;
-invoices prepared after 1st Jan, but where the goods were delivered / taken away by customers before 1st Jan.
If you use accounting software, speak to your software provider in order to be able to re-set your default VAT rates.
Flat Rate Scheme - On 1st January we expect the rates will revert back to November 2008 levels, but HMRC have not yet finalised the new rates. These will be published on their website towards the end of 2009. We will let you know when the new rates are available.
Turnover > £100k? - If your sales are more than £100,000 (excluding VAT) you MUST soon file your VAT returns on line and pay any VAT due on these returns electronically. This will apply to all VAT returns covering a period beginning on or after 1st April 2010.
To enrol, go to HMRC website
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