01-12-09 VAT to Revert to 17.5 in January 2010
The 2008 Pre-Budget Report announced a temporary reduction in the standard rate of VAT to 15 per cent for a 13 month period from 1 December 2008 to 31 December 2009. The reduction was implemented by secondary legislation effective for 12 months. Legislation was introduced in the Finance Bill 2009 for the 15 per cent rate to apply during December 2009 and for the rate to revert to 17.5 per cent on 1 January 2010.
Making these changes is straightforward in your Zonal System and the following documents have been created to make it even easier for you to make the change in time for Friday 1st January 2010.