As you may be aware, the standard rate of VAT will be increased from 17.5% to 20%, effective from the 4th January 2011. From the 4th January, the new rate should be used on all orders and invoices. Full details about this change can be found on the HMRC website here.
MYOB has provided information to help change the VAT settings within your MYOB accounting software.
Please click here and follow the directions for updating your software for the changes to the standard VAT rate.