So, VAT returns to a rate of 17.5% on the 1st January 2010 (what a great date for the change to happen, techs everywhere will not be celebrating on New Years Eve!) from the current rate of 15%. That could affect you in one of two ways:
If you're a client of tictoc:
Any invoices sent after the 1st Jan will have VAT applied at 17.5%. That's not a big problem if you're a business, but if you're a charity and you haven't got VAT exemption status be warned!
If you have an eCommerce site:
The rate that VAT is applied to purchases made to your site will change back to 17.5%. At tictoc we'll make a central change on each company's CMS so that the VAT shown on invoices or receipts will be 17.5%, but we won't make any changes to the prices shown for your products. If you want the prices of your products to go up to reflect the VAT changes then these will need to be amended separately. Talk to us about how to go about doing that.
If you want more info about the VAT change, you can visit the HM Revenue and Customs site to hear it from the horse's mouth!