Blog Post

Beat the VAT rise

David Boyd Dec 2, 2009, 08:53 AM

Donna Weetman, Maintenance and Development Manager, PAD4U Letting Agents Manchester writes:

The standard rate of VAT will return to 17.5% on 01st January 2010, so make the most of any Building & Maintenance work you require before 31st December 2008.

Where work has been agreed and a deposit is paid before the 01st January, but work does not commence until after 01st January 2009, 15% is chargeable on the deposit and 17.5% for the balance of the work.

For estimates PAD4U have sent recently where the VAT is calculated at 15%,  estimates need to be agreed and works scheduled before the 31st December 2008.

Typical savings:               15%                      17.5%                      Saving of

£500                                    £75                      £87.50                     £12.50

£1,000                                £150                      £175                         £25

£2,000                                £300                      £350                         £50

£5,000                                £750                      £875                         £125

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