If VAT rate changes

[BrilloPad]

Q1. Would flat rate VAT rates change?

Seems to me that as it is on the gross figure - and if it changes from 17.5% to 15% for a year only - then does not seem much point in changing flat rate percentage?

Q2. Will there be work in changing systems from 17.5% to 15%?

[Board Game Geek]

Q2. Will there be work in changing systems from 17.5% to 15%?

I doubt it.

I have been using things like Pegasus / Opera Accounting, Sage and the like for years, and I know that in the Options settings, you have a VAT RATE field where the Sys Admin can change the Vat Rate in about 2 seconds.

Please don't me that some systems have the Vat Rate hardcoded in ?

That doesn't make sense, and any programmer who hardcoded such a variable figure needs to be shot for idiocy.

[BrilloPad]

I doubt it.

I have been using things like Pegasus / Opera Accounting, Sage and the like for years, and I know that in the Options settings, you have a VAT RATE field where the Sys Admin can change the Vat Rate in about 2 seconds.

Please don't me that some systems have the Vat Rate hardcoded in ?

That doesn't make sense, and any programmer who hardcoded such a variable figure needs to be shot for idiocy.

hmmm - maybe we need a dual rate system again then? that would provide some work!

Hmmm - idiot programmers - don't get me started.....

[Doggy Styles]

Please don't me that some systems have the Vat Rate hardcoded in ?

That doesn't make sense, and any programmer who hardcoded such a variable figure needs to be shot for idiocy.

Could it be like the millenium bug, planes falling out of the sky etc?

[BrilloPad]

Could it be like the millenium bug, planes falling out of the sky etc?

You mean the one where nothing happened - but we could charge loads on the pretext that it might?

[Fred Bloggs]

Well, I'm guessing that for us on the flat rate VAT scheme we'll lose maybe 3% of our income overnight?

[VectraMan]

SJD's spreadsheet would have to change...

If they don't change the FRS rate, that'll move the point where it's worth being on the FRS and so many of us may be moving back to the full VAT system.

[Fred Bloggs]

SJD's spreadsheet would have to change...

If they don't change the FRS rate, that'll move the point where it's worth being on the FRS and so many of us may be moving back to the full VAT system.

That's right, I do not really want the added hassle of VAT accounting every month. If the VAT reduction was just for a year or so I'd likely just stay on the FRS and swallow the ~3% reduction in income. About a £1.30p an hour loss on rate effectively.

[VectraMan]

Now the rumour is out there, this is going to kill retail sales between now and when the change is brought in.

And how does it work if the VAT rate changes half way through your VAT quarter?

[Diestl]

I don't think he has thought it through.