For any sales of standard-rated goods or services that you make on or after 4 January 2011 you must charge VAT at the 20 per cent rate. If you have a cash business and calculate your VAT using the VAT fraction you must use the VAT fraction of 1/6 on your standard-rated VAT inclusive sales from 4 January 2011.

The change only applies to the standard VAT rate. There are no changes to sales that are zero-rated or reduced-rated for VAT. Similarly, there are no changes to the VAT exemptions. Any sales you make at these rates are unaffected by this change.

Source:http://www.hmrc.gov.uk/vat/forms-rates/rates/rate-increase.htm

Related resources: distributor agreement | sales agency agreement

Most business people realise quickly that trusting someone else with your goods, money or reputation can be fraught with problems, so an agreement needs thrashing out to make sure everyone knows their roles and responsibilities and no one oversteps the mark. Poorly considered business arrangements are often a disaster. Unless someone who fully understands how the agreement works plugs all the holes, businesses can lose money, customers and reputations very easily.

All parties to an agreement need to protect their own interests – manufacturers, wholesalers, distributors and agents.

Often, this involves consulting commercial lawyers – but now a second cost effective option is available by downloading watertight agreements drawn by expert lawyers from online legal site Net Lawman UK.

The site’s sales agency and distribution section is packed with all the agreements and sales agency contracts an organisation needs to protect rights and interests under any sales agreement. Choose from:

• Sales agency: distribution agreement
• Sales agency agreements: sale of services or sale of goods, agent delivers
• Sales agency agreement: sale of goods, principal delivers
• Introducer’s Agreement: Provision of Products and Service
• Marketing agency agreement
• Representation Agreement
• Agency agreement: Consignment of goods
• Club Merchandise Agreement
• International Transaction Fee Protection agreement

If you are in business and need quick, cost-effective, reliable business documents, then Net Lawman is a ‘must have’ resource for distributor agreements, distribution contracts or sales agent agreements to make sure you are not selling your firm short.