January 4th 2011 sees another change in the standard rate of VAT from 17.5% to 20%. It is important to ensure that you have made all of the necessary changes to your EPOS system prior to this date.
The change only applies to the standard VAT rate. There are no changes to sales that are zero-rated or reduced-rated for VAT. Similarly, there are no changes to the VAT exemptions. Any sales you make at these rates are unaffected by this change.
However, depending on what versions of software you are using you will need to make several changes to ensure that sales after January 4th have the correct VAT value allocated to them. If you have a current Datasym support contract then please contact the helpdesk for advice in ensuring the correct changes are applied. If you do not have a current support contract, Datasym are able to provide you with a low cost monthly contract payable by direct debit to ensure that advice is only ever a phone call away.
For advice on ensuring you are ready for the VAT increase or to enquire about purchasing a contract please contact our helpdesk on 0844 870 9207