Roger Wood publishes one of its regular newsletters.

The accountancy firm Roger Wood has issued one of its regular newsletters. It notes the various elements of the temporary change in UK VAT from 17.5 pct to 15 pct. Roger Wood notes that you don't have to pass on the VAT reduction.
Based in Weymouth the firm notes that more firms are likely to face a tax enquiry with the efforts to collect more tax and VAT. Roger Wood also looks at the VAT consequences of housebuilders, who rent out properties they have built. the firm says it can help with "the partial exemption calculations, which are tedious and complex."
Meanwhile, the VAT reduction has been criticised by German Finance Minister Peer Steinbruck, who basically says the recession is irreversible and that we just have to grin and bear it.
To implement the VAT cut has been very fiddly in administrative terms for many companies. I don't get the sense the government appreciated that fact. It will be interesting to see if the reduction has helped retail sales.