Quick VAT question....

[Rochester TVR]

Hi, Im just about to pay my ltd company VAT for period 01-10-08 to 31-12-08 but have a quick question...

What date did the VAT drop to 15%? (November sometime???)

Do I now pay this enitre period at 15% or do I need to pay the VAT at 17.5% before the date it changed and then 15% thereafter?

Hope thats clear....

Thanks
Lee

Edited by Rochester TVR on Wednesday 21st January 10:40

[DavidY]

Vat Rate changed 1/12/08

17.5% prior to that date, 15% post that date

davidy

[rhinochopig]

...and if you pay a flat (lower) rate do you just knock 2.5% off?

[Ian V]

Lee, I,m sure that the date change was 1st December (at least that's the basis on which I,ve worked). You will need to have charged (and been charged) VAT at 17.5% upto this date and 15% after.

[Rochester TVR]

Damn thought so, here I was think I could give myself a nice little bonus...

Thanks

[spikeyhead]

rhinochopig said:

...and if you pay a flat (lower) rate do you just knock 2.5% off?

No, there are new rates hidden on the HMRC website somewhere. Predictably, you don't get teh full drop.

[Eric Mc]

spikeyhead said:

rhinochopig said:

...and if you pay a flat (lower) rate do you just knock 2.5% off?

No, there are new rates hidden on the HMRC website somewhere. Predictably, you don't get teh full drop.

And neither should you.