VAT rate to return to 17.5% (as expected)
In his pre-Budget report, the Chancellor confirmed that, as
planned, the VAT rate will return to 17.5% with effect from 1
January 2010. Businesses now have certainty about the changes that
they need to make to implement the January rate change. Following
the success of our "rate change" telephone helpline last
year, Deloitte will be launching a new helpline soon, to provide
help to businesses in the run up to and immediate aftermath of the
change of rate.
Bingo Duty reduction
The rate of Bingo Duty is to be reduced from 22% to 20% after
the next Budget. The Government increased the rate of Bingo Duty
from 15% to 22% earlier this year, a move that proved unpopular
with bingo clubs and players. The reduction to 20% is likely to
save the industry in the region of £10 million a year. For
more information, or to discuss the change, please contact
Barney Horn on 0121 695 5902.
