As it is likely that there have been a number of changes to tax that will affect manufacturers in the Pre-Budget Report, Maureen Penfold, head of manufacturing at Kingston Smith LLP, discusses the impact of these in her company’s quarterly report.
VAT changes afoot The ending of the reduction in the VAT rate on 1 January 2010 came as no surprise, given that this was always understood to be a temporary measure. However, in addition a number of other important changes to the VAT system came into effect on the same date. These changes apply to…
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