VAT Rate Changes

The Government has announced that on January 1st 2010 the VAT rate in the UK will revert back to 17.5%. Below we have set out the answers to the most frequently asked questions, which we hope will clarify the changes. If you have any other questions, please do not hesitate to contact us on 0844 800 0062.

• When exactly is the new rate effective from?
  1st January 2010
  
  
• What is the new NET VAT rate of the selling price?
  14.89%
  
  
• When the new VAT rate starts, do I need to do anything?
  The VAT rate will mean a larger refund to your customer. You will receive a new refund table which you should start to use from 1st January, 2010.
  
  
• How will the rate change affect my customers?
  Your customer will receive a larger refund! A new refund table will be sent to you in store.
  
  
• What do we do with our existing in-store materials?
  You will receive updated stationery to advise you of the changes in the refund tables but you do not need to do anything else.
  
  
• Will the minimum transaction spend of £30.00 change?
  No. Everything else will remain unaltered.
  
  
• What will happen with my UK Tax Free machine?
  Your machine will be updated and the new VAT rate applied.
  
  
• I have not yet received the updates? What should I do?
  Please telephone us on 0844 800 0062 and we will ensure that the updates are issued again. However, do not worry, as the refund your customer receives will be correct irrespective of what the form says.
  
  
• I have an integrated POS or TPS terminals. Do I need to do anything different?
  No, the updates will be applied automatically from the 1st January, 2010.