000107 : UK VAT Changes: 1st December 2008
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| Created: |
01 Dec 2008 |
| Last Updated: |
01 Dec 2008 |
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Message
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The Government has announced a cut in the standard rate of VAT from 17.5% to 15% with effect from 1 December 2008.
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Cause |
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As far as we are aware no changes need to be made to the ConnectIt-Sage50 Configuration due to this change. ConnectIt-Sage50 will continue to transfer the QuoteWerks document based on the Tax Rate specified on the QuoteWerks document and picking up the sppropriate Tax Code in Sage 50 Accounts.
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Resolution |
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It may be useful to review the advice offered by Sage on the subject here - http://support.sage.co.uk/default.aspx?page=2545 - or consult either directly with Sage (at time of writing they are offing support for non-Sage support users also) or your Sage reseller on how you might need to revise your accounting practices. If the advice that you receive has implications on the ConnectIt-Sage50 Configuration, then please review the ConnectIt-Sage50 Step-by-Step Guide to configuration to make the appropriate changes.
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