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Yarmouth company warns of VAT confusion

PUBLISHED: 14:27 11 December 2008 | UPDATED: 12:30 03 July 2010

A GREAT Yarmouth company has warned that thousands of small businesses could struggle to implement chancellor Alistair Darling's VAT cut which came into force on December 1 .

A GREAT Yarmouth company has warned that thousands of small businesses could struggle to implement chancellor Alistair Darling's VAT cut which came into force on December 1 .

CSS Sage Solution Centre, which supports the accounts software used by one in five businesses in the local area, has prepared a free leaflet and free helpline for businesses and is drafting in extra resources to help firms implement the change.

The software automatically works out the VAT that must be collected and paid to the government.

Businesses must change the amount of VAT they charge from 17.5pc to 15pc on most goods and services.

Managing director Peter Green said: “Actually, making the change in the software is very simple. But because there hasn't been a change in VAT since 1991, a lot of businesses will simply not know how to do it.”

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