Dec 01, 2009
UK Standard rate VAT increases from 15% to 17.5% on the 1st of January. The @UK PLC system is ready, we want to make sure all our customers are ready.
On 1st of January 2010 the @UK PLC system will switch to using a standard rate of VAT of 17.5%. This change will take place automatically, and will affect a large percentage of the circ 3 million products on the marketplace.
There were no issues with the core @UK PLC system, change when VAT switched from 17.5% down to 15%, however there were a significant number of issues with buying organisations that use codes rather than percentages for rates.
@UK PLC is looking to freeze interface development on the 14th of December, and to ensure that all buying organisations have checked their interfaces and agreed any changes to VAT codes. @UK PLC strongly recommends using percentages rather than codes for VAT, however this is part of the interface for certain financial systems, and @UK PLC wishes to ensure that all interfaces are ready for the change in good time.