Get to know those pesky new VAT charges
- The supply spans 1 January 2010.
- It is liable to the standard rate of VAT.
- There are new anti-avoidance rules.
The Finance Act 2009 imposes a supplementary charge to VAT in relation to supplies treated as made on or after 25 November 2008 when certain conditions are present. This means that the supplier will be liable to the additional VAT as a result of the increase, even though he has only charged his customer 15%.
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