Vat Reduction Ends

The Chancellor, as expected, has signalled the end of the 15% VAT rate with the rate of Value Added Tax returning to its standard rate of 17½% with effect from 1st January 2010.

The measure was only ever intended as a temporary assistance measure, part of the fiscal stimulus that was announced last November to help business overcome the effects of the "credit crunch". Business leaders had urged the Chancellor to consider extending the reduction but the rate returned from midnight 1st Jan.

NUS Data Recovery can assure customers that (in line with HMR&C guidlines) any work that was recovered and completed prior to 1st Jan will be charged at the 15% rate, however any work that was in progress but not fully recovered will now have to be charged at the full rate.

05, Jan, 2010