The new lower VAT rate does not take effect till Monday.
As a result anyone wanting to buy a high priced item should consider putting off the purchase till after the weekend. But (unless I am mistaken) if the goods or services are not going to be delivered till Monday or later the merchant is in a position to charge VAT at the new rate.
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?”
So I’m off for a few days fishing and sunning myself on the beach and unless otherwise requested will not be doing any work till Monday!!! Thank you Darling
Disclaimer – I’m not an accountant etc so treat this as you would any snippet of gossip overheard on the Clapham Omnibus…..