VAT Rate Increase in January 2011 – Why's it Different?

With the “Comprehensive Spending Review” ringing in our ears, it’s easy to forget that there will be an increase of standard-rate VAT to 20% on 4 January next year.

This is no doubt painful for you if you live in the UK. But for businesses trading in the UK, it’s easy to think this is just a repeat of the last increase this last January. It’s not. There will be several different consequences for systems and commercial arrangements, such as: [...read more...]