amcho
26-11-08, 15:09
Surprised that so far only two merchants (Robert Dyas and Dixons) have jumped on the VAT reduction band wagon.
As the new rate does not take effect till Monday anyone wanting to buy a high priced item should put off the purchase till after the weekend. But (unless I am mistaken) the merchant is in a position to charge VAT at the new rate so long as the itrem will not be delivered till Monday
See
http://www.hmrc.gov.uk/pbr2008/vat-guide-sum.pdf
Look in "Are there any special rules for sales spanning the change of rate?"
Disclaimer - I'm not an accountant etc so treat this as you would any snippet of gossip overheard on the Clapham Omnibus.....
As the new rate does not take effect till Monday anyone wanting to buy a high priced item should put off the purchase till after the weekend. But (unless I am mistaken) the merchant is in a position to charge VAT at the new rate so long as the itrem will not be delivered till Monday
See
http://www.hmrc.gov.uk/pbr2008/vat-guide-sum.pdf
Look in "Are there any special rules for sales spanning the change of rate?"
Disclaimer - I'm not an accountant etc so treat this as you would any snippet of gossip overheard on the Clapham Omnibus.....