Autumn 2009 Newsletter Contents Tin Hats Required Trust In Money Beat The Hike Expenses A - Z On The Job Training Pay In Lieu Pension Pot Opportunity Knocks ISAy ISAy ISAy Fair Exchange? Scrappage The Value Of IR35 Loss And Profit End Of The Holidays Da Vinci Or PAYE? Last Orders Foreign Peril Quadruple Entry It's A Date All Change Good Health! O Lucky Man! Be Prepared An Inspector Calls SA Or Not SA? Now You're Asking I Only Work Here You Want It When? Dirty Laundry? No Smoke Without Fire Corporate Manslaughter

All Change When the VAT rate was cut from 17.5% to 15% on 1 December 2008, it was a shock - we had a week's notice for something that had not happened since the early 1990s. When it goes back up on 1 January 2010 we have had over a year to think about it. It will still be tricky, and it will be necessary to be prepared for it. For example, if you agree a price for a supply in December, but delivery falls in January, the law allows the supplier to change the contracted price to reflect the increase in the VAT rate. If you are a customer who can't recover VAT, that's important to know - and if you are a supplier who doesn't want to annoy your customers, it's important to explain. If you want to discuss the rules which cover an increase in the VAT rate, we can help.