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Dear Colleagues, may I add a further twist to this tale - it has just been pointed out to me that our financial management system (SAP) which I know is used by other Universities, is at present only set up to pay vat @15% and will not/cannot accept payments at the 17.5% rate until such time as the old rate is restored. Has anyone else hit this problem and if so, how have you resolved it? As we are on the cusp of our major invoicing period I can see real problems if we are faced with a series of invoices with two different VAT elements to apply, so I am hoping that someone has found a fiscally sound way round this - preferably one which does not involve having to request 2 invoices per product! Kind regards, Jill Jill Taylor-Roe Head of Liaison & Academic Services Robinson Library Back Jesmond Road West Newcastle upon Tyne NE2 4HQ tel 0191 222 7652 fax 0191 222 7605 email [log in to unmask] >-----Original Message----- >From: An informal open list set up by UKSG - Connecting the Information Community >[mailto:[log in to unmask]] On Behalf Of Steven Tweedie >Sent: 18 August 2009 16:47 >To: [log in to unmask] >Subject: [LIS-E-RESOURCES] rate change in VAT - question. > >Dear List Members, > >I suspect this may open a whole can of worms! But here we go >anyway...... > >As you may be aware many suppliers, including ourselves, issued VAT >refunds last year to compensate for the change in rate from 17.5% to >15%. > >In our case we charged 11 months at 15% and 1 month at 17.5% > >As you may be aware the VAT rate is going back up to 17.5% on the 1st >January 2009. Our academic subs to the IEEE / IET online library start >30th November. HMRC have advised us that we should charge VAT in >accordance with the guidance on the following site. After several >conversation with HMRC they assure us that we must treat our customer >as "a single supply" this is due t the fact that we do not have >evergreen contracts, i.e. subscriptions are ordered on an annual >basis, and of course people have the option not to renew. In essence >this means we must charge 15% VAT on the portion between 30th November >2009 and 1st January 2010 and 17.5% on the rest. > >http://www.hmrc.gov.uk/vat/forms-rates/rates/rate-changes.htm > >I wondered if you have had any notification to the contrary from any >other suppliers or indeed from your own VAT office. > >Obviously for our commercial customers the rate is of no significance >since they will claim back the full VAT amount. > >Any feedback is welcome. > >Steve > > >Steven Tweedie | www.contentonline.co.uk >[log in to unmask] | mobile 07967 133 485 | office 0169 747 5839 >Skype steven_tweedie > >Content Online Ltd >PO BOX 344 >Carlisle >Cumbria >CA1 9DB > > > >the small print >this email and any attachments are confidential to the intended >recipient only. If you are not the intended recipient please delete it >from your system and notify the sender. Do not copy it or use it for >any purpose or disclose or distribute its contents to any other >person. Content Online Limited is incorporated in England and Wales >under Company Number 5825237. Registered office 15 Victoria Place, >Carlisle, Cumbria, CA1 1EW. Content Online Limited represents the IEEE >in the United Kingdom and The Republic Of Ireland. This e-mail does >not in any way represent a quotation or offer for sale. Our standard >Terms and Conditions of sale can be viewed at www.contentonline.co.uk > > > > > > >lis-e-resources is a UKSG list - http://www.uksg.org/serials >UKSG groups also available on Facebook and LinkedIn lis-e-resources is a UKSG list - http://www.uksg.org/serials UKSG groups also available on Facebook and LinkedIn