Finance professionals have been predicting it since the last Budget and now a BBC survey of 28 Treasury appointed economists has found that 24 expect the rate to increase in the emergency Budget to be delivered in the next 50 days.
All businesses with turnover of £100,000 or more will be required to file and pay VAT by electronic methods from April 2010.
The Bottom Line:If Mr Cable has his way...
"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more