Following the introduction of VAT at 20%, CORGI has released its on-line VAT Saver system that gives all installers the opportunity to save an average of £134 on every boiler installation by applying tax rules that allow VAT to be charged at 5% for the installation of energy saving components.
The system utilises VAT Notice 708/6, which was introduced by the government to support the reduction of carbon emissions by encouraging the installation of energy saving heating materials through a reduced VAT rate of only 5%.
Developed over a number of years with advice and input from some of the country’s leading accountants, the principles behind the system have been in use for several years, passing HMRC inspections right across the UK.
CORGI VAT Saver is a simple system that can be used by any Gas Safe registered engineer with Internet access to calculate the correct amount of VAT payable based on the quantity of energy efficient components you use. It takes no more than 2-3 minutes to process each job, saving you an average of £134 for every installation.
As well as being quick and simple to use, there’s also no up-front charges, no monthly fee and no contract, meaning that you only pay when you save. For example, on a typical Boiler installation, CORGI VAT Saver will save you £134 in VAT, and only charge you 25% of what you save.
Ben Pratchett of CORGI said “As with most VAT regulations, the complexities of applying them can be a hurdle which many of us have neither the time nor the knowledge to overcome, and research has shown that the majority of installers simply add the standard 20% VAT. With CORGI VAT Saver, you have a convenient and economical way to calculate the correct amount of VAT payable when installing a new Boiler, giving you the advantage in this ever increasing competitive environment.”