In the Pre-Budget Report on the 24th November 2008, the Chancellor announced that the standard rate of VAT will be reduced to 15% on 1 December 2008. In light of this announcement, Microsoft Dynamics UK is presently finalising its proposed technical guidance for customers which will be published shortly. It is expected that the change to the standard rate of VAT will affect customers using Microsoft Dynamics AX, GP, NAV and RMS.

Updated technical guidance is available now here.

For further detailed information and HMRC guidance about the change, please visit the HMRC Website at www.hmrc.gov.uk/pbr2008

Posted by Tom Brookes