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Pitney Bowes Warns That April VAT Increases Could Cost Businesses GBP 1,000s(March 22, 2012)
HARLOW, UNITED KINGDOM -- (Marketwire) -- 03/22/12 -- Pitney Bowes has warned UK businesses to check they are able to handle changes in VAT on postage. The adjustment comes into force on 2nd April and the company believes it could potentially lead to a loss of GBP 1,000s of savings.
On 2nd April, the Royal Mail is introducing VAT on a range of bulk mail services. This will be in addition to VAT that was applied to other products in April 2011. Clean Mail advanced (soon to be renamed Business Mail advanced) for example is a commonly used discount product which gives rebates to those sending over 500 items of post in a single day. However, further volume related discounts will also be available for larger volumes after this date.
Only those using a SMART meter from April will be able to benefit from these discounts. SMART meters transmit data back to the Royal Mail and generate VAT statements so that customers can make appropriate VAT claims from HMRC (Her Majesty's Revenue and Customs).
Phil Hutchison, Pitney Bowes' Marketing Director said: "Over 80% of all Pitney Bowes installations are already SMART compliant. In short without a SMART meter you will not be able to qualify for any reimbursements."
In some cases a software update can be arranged on the product, but in others they cannot be updated and must therefore be changed. Pitney Bowes advises you check with your meter manufacturer that yours are in fact smart enabled. For this reason, Pitney Bowes customers are less likely to suffer any impact as all its franking machines sold over the past five years have been SMART-enabled(i).
Hutchison continues: "The VAT changes will force many to review their current franking equipment and represents a chance to review and to upgrade their current meter to access new benefits, such as full colour printing with the Connect+." Pitney Bowes offers a range of options, including all inclusive offers which cover rental, service, postal top-up fees and franking ink. Further details are available at http://www.pitneybowes.co.uk/Equipment.shtml.
(i) Pitney Bowes' current SMART-enabled models include: K721-DM50/55 P720 - DM100i/125/150i/175i/200i G920 - DM300c/400c/450c/475c ID20-DM400-DM1000 Connect+ Series
About Pitney Bowes
Delivering more than 90 years of innovation, Pitney Bowes provides software, hardware and services that integrate physical and digital communications channels. Long known for making its customers more productive, Pitney Bowes is increasingly helping other companies grow their business through advanced customer communications management. Pitney Bowes is a $5.3 billion company with 29,000 employees worldwide. Pitney Bowes: Every connection is a new opportunity(TM). www.pb.com
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