Am I right in saying that all my sales on Monday 3rd of Jan will be 17.5% VAT then on Tuesday 4th 20%? We only invoice our credit customers at month end, so I will have to charge at different rates for Jan from the Tuesday. Normally we just invoice date all Jan's invoices at 31 st Jan and often, for the same customer, we will use more than one sale from our day sales duplicate book putting them on one invoice, this would mean 2 rates of VAT on one invoice. We use sage. Tips?
It really depends on the tax date Tony rather than the invoice date as to what vat rate to charge. Out of interest the reason for this odd date is because last time it changed from 17.5% to 15% on 31st December, all the pubs and clubs were having to sell beer at one price 1 minute to midnight and then having to charge a differnt amount a minute later!
