Get ready for the VAT rise

Lewis Smith & Co. just wanted to remind you that the temporary reduction of VAT to 15%, that started on 1st December 2008, is coming to an end on January 1st 2010.

So you need to remember to apply VAT at 17.5% again on sales of products or services after that date. You will also need to remember to apply the change in your books or finance systems to make sure everything adds for your VAT return.

Not too difficult a change to sort out but one that could cause a few problems if you forget.

If you have any questions about the change in VAT rates then feel free to give us a call on 01384 235549 and we’ll do our best to help.

Lewis Smith & Co. – Solving tax, accounting and business issues for clients in Brierley Hill, Rowley Regis and Wednesbury.