Tags Tagged With Tax calculations
Coping With The Vat Rate Change - How To Calculate And Deduct The New Vat Rates
Adapted from an article by Tim C James Although most companies are now up to date with the VAT rate change, there are still many occasional traders and people who freelance for a second income, like yours truly who are having to calculate new prices after the VAT rate change. Implementing the change can be tricky - invoices have to be amended, spreadsheets and databases need to be changed, and things can get complicated! Traditionally, many people have used the fraction method t
How To Deal With The Vat Rate Change - Tips For Businesses
With the VAT rate change coming in on the first of December, companies across the country are scrambling to be ready in time. Here we go though some tips for companies trying to deal with the upcoming VAT rate change. Companies that do not identify VAT on customer receipts can continue to work as they did before. As a company, you do not have to reduce your prices. Of course, the government is trying to get business to pass the savings on to customers, however, there is nothing t