Which rate of VAT do you charge, when the VAT rate changes?
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HMRCA decrease in the rate of VAT has been widely predicted for the Pre-Budget Report tomorrow, and it is possible that the change could be brought in at short notice.
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In his Pre-Budget Report yesterday, the Chancellor announced a reform of Capital Gains Tax that is expected to take effect from 6 April 2008. Although the detail has not yet been published, it is expected that this will involve replacing the current range of tax rates (from 0% to 40%) with a single 18% rate.
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