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VAT Increase to 20%
01 Nov 2010
From the 1st January 2011 the current VAT rate will increase from 17.5% to 20%. As with the VAT changes last year, Energy & Utility Skills aim to implement this new rate as smoothly as possible. The point of sale for Registration is the date on which an application is added on to the Energy & Utility Skills Register. The rate of VAT applicable on that date will be charged. Full details, and a schedule to to manage this process are contained in the news article.
From the 1st January 2011 the current VAT rate will increase from 17.5% to 20%. Full details of the VAT changes can be found on the HMRC website, www.hmrc.gov.uk.
The rate of VAT is determined by the Date of Invoice. For Registration on EUSR this is complex as the Date of Invoice is the point at which an application is added to the Energy & Utility Skills Register and the rate of VAT on that day must be applied. This means that irrespective of the date of training, the new rate of VAT will apply for all applications processed or received from 1st January 2011.
As with the VAT changes last year, Energy & Utility Skills aim to implement this new rate as smoothly as possible. EUSR operates a maximum standard of service of 28 days for processing applications and for this reason a schedule of timings will be put in place, and communicated to our trainers and administrators, to help ensure that the higher rate of VAT is not charged unnecessarily and incorrect VAT payments are kept to a minimum.
| 10 December 2010 | Last date by which applications must be received to guarantee the VAT rate of 17.5% |
|---|---|
| 11 - 24 December 2010 | Any applications where payment is made by cheque at the old VAT rate will be automatically returned if the cheque cannot be cleared before the Christmas close down. For all payment by Purchase Orders the rate of VAT will be determined by the date of Invoice. Best endeavours will be made by Energy & Utility Skills to process as many applications as possible at the 2010 VAT rate. |
| 24 December 2010 - 4 January 2011 | Energy & Utility Skills offices closed for Christmas. Post will not be received until Tuesday 4 January |
| 1 January 2011 | All applications received & processed after this date will be charged at the new VAT rate of 20% |
PLEASE NOTE:
- These dates are particularly important for companies/independent trainers who are not VAT registered.
- The point of sale for Registration is the date on which an application is added on to the Energy & Utility Skills Register. The rate of VAT applicable on that date will be charged.
- Application where the payment has the incorrect rate of VAT will need to be returned.
If you have any questions regarding any of the above - please contact us on 0845 077 9922
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