What happens when the VAT rate changes?

If you are an accountable person, in certain circumstances, you are obliged to issue a valid Value-Added Tax (VAT) invoice.

When you account for VAT on the invoice basis, you must apply the rate of VAT in force at the time you are obliged to issue that invoice.

When making supplies to unregistered persons, you must apply the rate of VAT in force at the time of the supply.

Persons accounting for VAT on the moneys received basis, must apply the rate of VAT in force at the time of the supply.

Further guidance contains more detailed information on the procedures to be followed by VAT registered traders when the VAT rate changes.