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VAT rise - threat or opportunity?

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Monday September 13, 2010 at 4:32pm
In January VAT shoots up to 20 per cent. Now is a good time to decide how to present that increase to customers. Whether you add it into your price or factor it into your costs, make sure you are up front.

Transparency wins customers’ trust and with that more business.

If you are selling to the public or charities, housing associations or health care providers who can’t claim VAT back – now is the time to think about pre-VAT rise promotions, encouraging people to buy now and save.

The VAT increase may not be good news, unless perhaps you consider the broader economic picture and accept that the country needs bail out cash from somewhere, but you don’t just have to sit back and let it happen – you can have a plan for how to deal with the rise and potentially benefit from bumper pre-rise orders in the process.

Andy Parker
Chartered Accountant

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Parker Chartered Accountants and Financial Advisors is the trading name for Parker Business Development Ltd (Registered No. 4116664), Parker Tax and Trust Ltd (Registered No. 06950353) and Parker Financial Planning LLP (Registered No. OC347027). Parker Financial Planning LLP is authorised and regulated by the Financial Conduct Authority. All companies are registered in England and Wales – registered office contact details here