HM Revenue & Customs have issued guidance for businesses dealing with the increase in the standard rate of VAT from 15% to 17.5%.

The change takes effect from 1st January 2010. They hope that by issuing the guidance well in advance of the change that businesses will have sufficient time to prepare.

To download the HMRC Guidance notes, visit this link http://www.hmrc.gov.uk/vat/forms-rates/rates/rate-rise-guidance.pdf