VAT rates
There are different rates of VAT that apply to different types of goods and services. And there are some goods and services that are exempt from VAT.
There are three VAT rates:
- standard rate - 20 per cent
- reduced rate - 5 per cent
- zero rate - 0 per cent
The rates of VAT may change from time to time - the changes are usually announced in the Budget. So you'll need to check regularly to make sure you're using the correct VAT rates.
More details here:
http://www.hmrc.gov.uk/vat/forms-rates/rates/rates-thresholds.htm#1
Comments
1 comment
Thanks for this. It will help me keep up with UK regulations for my Irish bookkeeping clients.
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