VAT rate changes on Dec 1st – Only 5 days!

Unless you’ve been living under a rock you’ll be aware that the HMRC has temporarily reduced the rate from 17.5% with effect from December 1st to 15%. With the current rate having been in place since 1991 companies may find that their legacy applications have had the rate hard coded where developers have taken shortcuts whilst developing applications. It’s important to note that correct application of VAT rates is entirely the down to the business owner to ensure is correct.

The change means that websites need to have their VAT rate calculations updated to reflect the new value on sales from Dec 1st – but remember that it is a temporary change so will need to be changed back or a mechanism put in place to do it for you.

Unfortunately this change comes into place in under 5 working days which doesn’t leave you much time to update/test existing applications. If you find yourself in a position that you’re unable to update your application’s in Flex or ColdFusion VAT rate then Monochrome can help so get in touch.

In this current climate of change and uncertainty your website can be your most important asset in increasing your exposure and revenue stream. Monochrome can assist in the design, development and deployment of rich user experiences that have a significant impact to your online presence. Let Monochrome bring your site to life!

Posted by on 25 Nov 2008