Darling Cuts the Standard Rate of VAT

The Chancellor has annouced today during his Pre-Budget Report a cut in the standard rate of Value Added Tax as expected.

The cut reduces the current rate of VAT from 17.5% to 15%, from 1st December 2008 temporarily, for 13 months until January 2010, after which the rate will be increased back to 17.5%

For more information about VAT, please contact us.

You might also be interested in:

• Calculating VAT on Leases From 1 December 2008 Changes to VAT announced in the Pre Budget Report 2008...
• Increases in Personal Allowances, Child Benefits and Tax Credits Changes before April 2009 The increase in Child Benefits will...
• Corporation Tax Small Companies’ Rate The Chancellor, Alistair Darling today annouced in his Pre-Budget Report...
• Tax Cuts Deliver Extra Help For Families The Government is today [Monday 6 April 2009] implementing tax...
• Double Duty-Free Allowance for Travellers Returning to the UK Travellers can now bring back more than double the amount...