CD Designs Blog
The morning of the 1st of January 2010 will bring a number of things; the end of the “noughties”, hangovers for the party animals amongst us, and perhaps some quiet contemplation of New Year’s resolutions for those who prefer clean living.
It will also see us as a nation returning to a V.A.T rate of 17.5%, up 2.5% from the current 15%.
With the end of this reduced rate of Value Added Tax on the horizon, it might be time to start thinking about capitalizing on the current state of affairs. Although it’s a little too dark and a little too windy at the moment to justify calling it “making hay while the sun shines”, it may be worth considering moving forward a large expenditure that you would otherwise have put off for a while.
Obviously, at Christmas budgets can be tight, but it may well make sense in the long run, especially for purchases which are investments in your property. The cost of services which are booked and paid for now, before the tax hike, but which take place after it, will remain subject to the 15% rate of V.A.T despite the increase, unless they are transactions over £100,000.
It’s something to bear in mind, and after all, what better start to a New Year – and new decade – could there be than knowing that you’ve managed to save a bit of money already?
Well, as we’re into the final quarter of 2010, it seems the VAT isn’t going to go down. In fact, it’s going up next January. Read this blog post for more information.
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26th November 2009