CHangetoVatRate011208：改变税率011208.docVIP

Contents Why the Change? What we can provide How you implement the new routine Questions and Answers Support Why the Change? In his Pre-Budget Report on 24 November 2008 the Chancellor announced that the standard rate of VAT will be reduced to 15% on 1 December 2008. This means that for any sales of standard-rated goods or services that take place on or after 1 December 2008 providers should charge VAT at the new rate of 15%. Only standard-rated sales are affected. There are no changes to sales that are zero-rated or reduced-rated for VAT. Similarly, there are no changes to the VAT exemptions. The 15% rate will remain until 31st December 2009, and from 1 January 2010 it will revert to 17.5%. What we can provide By close of business today (Friday 28th November) we will install on your system a routine that, when you execute it will: 1. Amend the standard VAT rate to 15% and 2. Install a new program that will allow an operator to select an old or new VAT rate when raising a credit note. The advice we have been given is that sales invoices raised at the current VAT rate of 17.5% should be credited at this rate but please verify this with your accountants or revenue and customs office or visit the .uk site for further information. [Please note that these new programs will be delivered via a modem/vpn connection.] 3. This routine will also provide the capability of reversing both the changes above. So allowing invoices and credits (including credit from invoice) to be raised at the old rate. It is entirely your responsibility that where you use this reversal you ensure only the intended transactions are performed. WE REPEAT - WHERE YOU USE THIS REVERSAL TO PROCESS OLD RATE TRANSACTIONS YOU MUST ENSURE THAT YOU ARE THE ONLY USER ON THE SYSTEM. PLEASE BE AWARE EVEN AN ‘EDIT ORDER’ PROCESS WILL UPDATE THE VAT ACCORDING TO THE “CURRENTLY SET” VAT RATE. How you implement the new routine 1. From TCL in each of your Merchant accounts please enter RUN BP CHANGE.VAT.RAT