HB Accountants

December

The VAT increase on 1 January 2010

If you supply goods or services to the retail market or to any organisations (such as charities) which cannot reclaim VAT, you could save them money, and possibly also improve your own cash flow, by invoicing them this month with VAT at 15% instead of next month at 17.5%.

This is permitted, even if you don't provide the goods or services until next month or even later. The only limit is that the supply must take place within six months of the invoice date.

Although we are only talking about a small saving, your customers will also appreciate that you are thinking about them.
 

For further advice, please do not hesitate to contact us on 01992 444466 or directors@hbaccountants.co.uk.

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