If you are are VAT registered you will need to be ready to apply the 17.5% VAT rate with effect from 1 January 2010. If your annual (VAT exclusive) turnover is £100k or more, you will need to file VAT returns online from 1 April 2010.
This long waited confirmation of VAT rate changes will be a blow to businesses small and large who will now have to find the time over the festive period to implement these changes.
For more information contact Allan Brown Chartered Accountants
