Henceforth and for the duration of the 13 month temporary reduction in VAT, we will be invoicing members and advertisers VAT at the rate of 15% from 1st December 2008.
In and Around Covent Garden VAT Policy affecting Membership Subscriptions payable by Standing Order ONLY: In order to avoid prohibitive administrative burden, we propose to maintain existing standing order payments at the previous rate and to donate any surplus amount in a lump sum to our chosen charity, St Martin-in-the-Fields at the end of the VAT reduction period. Members applying for refund before 31/12/09 will be reimbursed at the end of the VAT reduction period. Alternatively if preferred, a special mandate which will take into consideration the reduction in VAT until 31/12/09 reverting thereafter to the appropriate amount can be obtained by request. Members may also wish to consider the savings made by the payment of membership fees annually in advance.
In and Around Covent Garden VAT Policy affecting Membership Subscriptions dated 01/12/08 and payable prior to and dated 01/01/09 ONLY: Membership invoices are payable in advance. Invoices dated 01/12/08 and payable prior to and dated 01/01/09 have already been issued ahead of the recent announcement of the temporary reduction in VAT. We do not intend to re-invoice unless specifically requested. If appropriate to your accounting requirements, please reduce the VAT element of the payment to the current rate of 15% VAT. Any surplus will be assigned to our chosen charity of St Martin-in-the-Fields at the end of the reduction period.
Advertisers and membership subscriptions other than those described above are not affected.
As a not-for-profit organisation, we intend to avoid the significant cost of reprinting literature so as not to divert funding away from our cause; promoting Covent Garden and the member businesses, on whose support we depend. If you have any questions or would like a special standing order mandate, please contact firstname.lastname@example.org or call 020 7240 9731.