As you are all no doubt already aware, the standard rate of VAT was increased back up to 17.5% on 1st January 2010.
As with the reduction in December 2008, you should double-check all your sales invoices and receipts from that date to ensure that the right % is being added to the goods and services you are providing. Practically, standard templates with formulae to work-out the VAT will have to be amended again, and software that generates invoices for you will have to be reset.
The standard VAT fraction has changed back from 3/23 to 7/47.
