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Former Member
Nov 24, 2008 at 11:44 AM

VAT rate change - effectivity date

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We are expecting a change in the rate of VAT in the UK to be announced today. It hasn't changed for a long time and so I've been checking the process to do this. I've discovered that it is more than just changing a rate via FXTP followed by manual transports (???) to change the rate itself but I cannot find anywhere to note an effectivity date or tax point date.

Having consulted the Accounts department, we will almost certainly be in a situation where, for example, an invoice run will include sales orders created at either side of the effective date of the change.

Can this be handled and if so, how.

Thanks in advance

Jim Jackson