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15% VAT rate on purchases

Last post Mon, Nov 02 2009, 9:40 AM by huckster. 1 replies.
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  •  Mon, Nov 02 2009, 9:17 AM

    15% VAT rate on purchases

    I have paid a 5% deposit for a new conservatory at the 15% VAT rate, but the conservatory won't be erected until end of January. Do I have to pay the remaining balance at 15 or 17.5% VAT rate. If 17.5% then is there a way round this, eg, paying more/all balance before end December?
    • Post Points: 20
  •  Mon, Nov 02 2009, 9:40 AM

    Re: 15% VAT rate on purchases

    Hi

    I believe the important date is the date you entered into the contract and not the date you pay the balance.

    The business selling you the conservatory should be aware of the rules regarding VAT and they should have made you aware if there was any issue.

    If you want to be extra cautions, you could phone the tax office, see this link. http://search2.hmrc.gov.uk/kbroker/hmrc/contactus/search.ladv?sr=0&as=1&cs=ISO-8859-1&sc=hmrc&sf=&sm=0&nh=50&ha=34&tx0=49685&fl0=__dsid:&tx1=2037&raction=view

    I believe that only 15% VAT rate is applicable, but if this is wrong please post back.

    Huckster

    • Post Points: 5