Top 10 tips for businesses preparing for the VAT rise

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The VAT increase will have pricing and cost control implications for many clients, so it pays to be prepared, explains John Crawford.

Can it ever be too soon to start preparing for the VAT hike in January? Absolutely not. Professional advisers such as accountants will have to be up to speed on the detail, as businesses of all kinds will have to factor in pricing and cost control implications. What's more, it shouldn't just be left to the accountants – it's a total team project to ensure that businesses don't pay the price for poor preparation – so make you share the top 10 tips below with your clients.

  1. Educate your team or your client's team. Be aware of the tax point rules and make sure that you have a company policy that your staff know and und...

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19th Jul 2010 12:10

Second time around

So the Tories should at least give Gordon some credit - for getting everyone ready for their VAT change.

But he brought it back to 17.5% again after a year ... (Edit: sorry, brain not in gear !)

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... the Labour government didn't put VAT back down again. They reduced the standard rate to 15% and the put it back to 17.5%.

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By TC1
19th Jul 2010 20:47

VAT vs Price increase

I feel a bit like a parrot saying this, but ...

an increase in VAT from 17.5% to 20% is not a 2.5% increase - in anything.

VAT increases by 14.3% (that's 2.5 in 17.5).

The (VAT-incl.) price increases by 2.1% (that's (1.2-1.175) in 1.175).


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22nd Jul 2010 09:39

Point mean prizes

Tricia, think in the media they call it "2.5 percentage points" - ugly but clear !

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By Rehan1
26th Jul 2010 11:07

Pont 4 Explanation, Did not get it .

Hi John,

Interesting Article and good contribution from you on VAT rise.

Please could you elaborate Point no 4 on Retailers , if possible with little expample.

I would appreciate your help.


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