UK VAT Rate Change

[netshine]

If you are a VAT-registered business in the UK, don't forget to change the VAT rate in nBill tonight from 15% to 17.5%.

When you change the rate, if you have any orders for recurring payments, you will be prompted to decide whether to change the net amount or the gross amount. In most cases, it is best to change the net amount and keep the gross the same (otherwise you have to cancel all of your payment schedules and set up new ones). If your orders do not auto-renew, or you want your clients to pay the extra VAT amount, tell nBill to change the gross amount and keep the net the same. If you have both auto-renewing and non-auto-renewing orders on your system, you will be given the option to change the net or gross separately for each type.