VAT: changes are just around the corner
- Changes to the business of retailing.
- Be aware of the new software rules.
- Get the team prepared.
The business of retailing is always in flux and whether retail businesses increase their prices or not on 1 January 2010, they will have to account for VAT at the 17.5% rate from then on. So if the prices are not adjusted to reflect the rate change, the business will suffer an immediate reduction in margin.
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