Yes, QuickBooks Online (QBO) will automatically update the adjusted VAT rate, csacs101. Let me share some more insights regarding this matter.
To start with, QBO complies with the regulations set by your tax agency. Please note that the updated VAT rate of 15.5% will become effective on May 1, 2025. Following this change, the system will be updated promptly to reflect this change accurately.
Furthermore, the system will automatically apply the new VAT rate to all invoices created from that date onward, eliminating the need for you to manually adjust the rates on your invoices.
Additionally, you can visit this article for guidance in handling VAT transactions and other tasks in the tax center: Manage VAT payments in QuickBooks Online.
We're here to help ensure your smooth transition to the new VAT rate and support your ongoing financial management needs. If you have follow-up questions about QuickBooks, you can always revisit this thread.
