'Buy double glazing now' before VAT increase

Buy double glazing now before the VAT hike Those thinking of making home improvements should do so now before the VAT rate increases, a financial adviser has said.Homeowners and businesses should buy their cheap UPVC windows now before the VAT rate returns to 17.5 per cent in January, according to a financial adviser.

Ben Chaplin, financial adviser at the Financial Times, said that supplies made to members of the public and businesses that are not able to recover fully any VAT charged can be structured to allow for a 15 per cent VAT charge even if the supplies are made after January 1st 2010.

He wrote in the paper that this would include goods or services paid for prior to the VAT increase but provided after. The VAT rate applicable here will be governed by the date of payment and accordingly will only attract VAT of 15 per cent.

This arrangement might appeal to those installing double glazing, ordering new fully fitted kitchens, having building work done, or getting new bathrooms.

The standard rate of VAT was temporarily reduced to 15 per cent on December 1st 2008 but it will return to 17.5 per cent on New Year's Day 2010.

Written by Jack Smith. ADNFCR-2394-ID-19421441-ADNFCR

Article Added: 22/10/2009 12:05:46

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