Following the recent change of Vat rate from 17.5% to 15% we have had to restructure our accounting procedure. Any member that has paid their subscription for 2009 prior to December 1st will still be able to claim back the full Vat amount as usual.
However, those of you that are paying after December 1st will pay at 15% Vat and our computer system has been adjusted to accommodate this. If anyone does mistakenly pay at the old rate you will be refunded the difference and issued with a credit note. This will create a lot of extra administrative work for us so we would appreciate you adjusting your payment prior to sending it to us. To help you make payment, below is a list of the new subscription rates for 2009 at 15% Vat. The Vat receipt that you receive from us will show your subscription payment at the correct rate.
Direct Debits for New Members who joined between 1st February 2008 and 30th November 2008 will still be calculated at 17.5% Vat, as once the first payment has been received a tax point date has been created for the whole of that subscription. However, the next renewal in 2009 will be calculated at 15% Vat, which may carry over after the Vat rate has increased again, so there will be a benefit there. New members joining throughout the year in 2009 and using the Direct Debit facility will also benefit from this system.
However, existing members who are carrying on their subscription for 2009 by Direct Debit and therefore have a 1st January 2009 renewal date, will receive new payment schedules at the reduced Vat rate shortly and all payments taken will be at 15% Vat.
We apologise for the complexity of this system and would ask for your cooperation and understanding. We are sure that many of you too will be finding the sudden change in Vat rate a huge inconvenience.
If you have any queries regarding subscription payments please telephone the membership office on 0845 644 3617 or e-mail email@example.com