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Tax and Business Updates

VAT

There are a number of changes taking place in 2010, either already announced or stemming from the 2009 Pre-Budget Report.

The Pre-Budget Report on 9 December confirmed that VAT will revert to 17.5% from 1 January 2010. Please see our PBR summary for the implications, or HMRC's detailed guide.

For VAT clients trading in the EU you may also wish to see our updates regarding new EU VAT rules from January 2010 and changes to cross-border EU invoicing rules from January 2010.

For businesses with net turnover of £100,000 or more, on-line filing of VAT returns is mandatory for periods after 1 April 2010, and for new registrations after that date. Please contact us for further information.

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