VAT - no change

The Chancellor make just one comment on VAT - no change!

Audrey Fearing, VAT partner at Ernst & Young commented: "As expected, VAT will remain unchanged at 17.5%, although many are still speculating that it won’t remain at that level for long. A rate of 20% remains the most likely outcome of the first year of the next Parliament." Some firms were predicting that the rise to 20% would be announced today, although this always seemed pretty unlikely in a pre-election Budget.

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VAT changes

Coates Franklin Ltd | | Permalink

The registration and deregistration thresholds have increased to £70k and £68k respectively from 1 April 2010: http://www.hmrc.gov.uk/budget2010/businesses.htm#10