What is VAT?
VAT is a tax charged on UK goods and services. It is paid by consumers and is used
As a business you may be responsible for charging VAT and paying it over to HMRC once your turnover reaches a certain threshold.
What is the Rate of VAT?
The standard rate of VAT is 20%, although there are reduced rates of 5% and 0% available for certain items.« Back to Glossary