Business News |
|
Standard Rate of VAT to Increase
It is proposed to increase the standard rate of VAT from 17.5% to 20% with effect for any supply made on or after 4 January 2011. The rate change does not affect either zero-rated supplies nor those supplies subject to VAT at the 5% reduced rate.
Detailed guidance has been issued by HMRC for businesses on implementing the change.
Internet Links: HMRC Budget note , HMRC guidance
Critical questions for your business
Are you paying too much tax?
Are you making enough profit from your business?
Would you like to be able to compare your business with others?
Are you looking for pro-active business support from your accountant?
Is your business where you want it to be?
Do you understand the numbers in your accounts?
Do you have a business plan?
Do you have a marketing plan?
Will your business meet your retirement needs?
Have you a succession, retirement or exit strategy?