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VAT increase

tinajanine65tinajanine65 Settling In NicelyRegistered Posts: 21
I would appreciate your comments please. As we are a business that charges VAT we are lloking at ideas for when the VAT is increased on 4th January 2011. As our clients pay for work done from the previous year, could we split the VAT between the two rates? This would help clients that cannot reclaim VAT. Does anyone have any other ideas which may benefit clients?

Comments

  • PGMPGM Font Of All Knowledge Registered Posts: 1,954
  • bumblebeebumblebee Well-Known Registered Posts: 135
    I would appreciate your comments please. As we are a business that charges VAT we are lloking at ideas for when the VAT is increased on 4th January 2011. As our clients pay for work done from the previous year, could we split the VAT between the two rates? This would help clients that cannot reclaim VAT. Does anyone have any other ideas which may benefit clients?

    It could depend on the VAT scheme your business uses I suppose.
    Invoice basis - VAT at taxable date
    Cash accounting - Adj to make for VAT increase
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