As we motivate ourselves to get back to work after the Christmas holiday, small businesses go back with a new VAT rate to adhere to. Today VAT increases to 20 per cent. Hopefully you’ve been able to adjust your books and mark up any price changes already and the latest hike won’t cause too much of a headache.
However, if you haven’t yet got round to it and you’re still unsure of all the rules surrounding the change you can find all the information you need on the HMRC guidance website. You can also refer back to our top tips which gives some easy to follow advice.
Best of luck and please share your experiences and tell us how you found the latest change.
Happy New Year!
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