Just a quick reminder that any payments received by us before the end of December will be charged at the lower VAT rate of 15%. From 1st of January 2010 all invoices will be charged at 17.5%
Posts Tagged ‘Vat Rate’
VAT goes back up to 17.5%
Friday, December 11th, 2009New VAT Rate of 15% now implemented
Monday, December 1st, 2008All invoices issued today (Monday 1 December 2008) will be charged at the new VAT rate of 15% instead of the old rate of 17.5% giving our customers a total saving of a fantastic, unprecedented, unimaginable, generous, overhyped 2.5% !. In fact the actual saving is a bit less – concentrate carefully:
Old rate 17.5%:
Net total: £100.00
VAT @ 17.5 = £17.50
Toatal: = £117.50
New VAT rate 15%:
Net total: £100.00
VAT @ 17.5 = £15.00
Toatal: = £115.00
Total (post VAT saving) = £2.50
which is only 2.13% of the old total of £117.5 (try it on your calculator: 100*2.5/117.5