As a result of the VAT rate change announced earlier this week, the standard rate of VAT will change to 15% on Monday 1st December 2008. This has two implications for you as an Inter-est user:
1. The VAT rate used by Inter-est to calculate the net total value of an estimate will be 15% for estimates created on or after 1st December. Estimates created before this date will be unchanged at 17.5%. All printed reports now clearly state the VAT rate being used.
2. Users of the Inter-est system will be charged VAT at 15% for estimates created on or after 1st December, and 17.5% for estimates created before that date.
Please contact us if you require further information.