VAT Rate Changes in Event Management Software

You may remember that Back in June Chancellor George Osborne announced the Budget for 2010. One of the key headlines concerned an increase to the VAT rate.

George Osborne said:

"On 4th January next year, the main rate of VAT will rise from 17.5 per cent to 20 per cent. This single tax measure will by the end of this Parliament generate over £13bn a year of extra revenues. That is £13bn we don't have to find from extra spending cuts or income tax rises."

So what does this mean for events managers? Well the first thing to do is to check if any of your current or upcoming events may be affected. If you have an event sign-up period with priced tickets or options that crosses from this year into next you will need to decide if you are going to continue to run VAT at the same rate throughout the event, or if you are going to need it to change at the same time as the rates switch in January.

Either way, if you manage your events in Symphony event management software this isn’t a problem. You can change VAT rates in Symphony on an event by event basis, so you can set the VAT rate on each event to whatever you like, or log back into your event and change your VAT rate whilst the event is in progress. So, even if you do have VAT rates to change on your events come January, with Symphony you can enjoy your New Year celebrations without a worry!