Intuit is not releasing a product update to automatically adjust the Standard Rate VAT from 17.5% to 15% for company files that already exist because we cannot identify company files that have already been manually updated with the Standard Rate VAT change. A product update would need to be applied automatically to all files, causing more work and potentially incorrect transactions for customers who have already updated their Standard Rate VAT information in QuickBooks. Given the short timeframe in which this Standard Rate VAT change must be implemented, it is unadvisable to issue a product update due to the number of scenarios to be tested and the amount of time needed to ensure we provide you with the best solution.

We have created FAQs that provide you with information on the different options for updating your VAT information in QuickBooks.