Current VAT rates - standard 20% and rates for reduced rate and zero-rated items

In the United Kingdom, the value added tax (VAT) [1] was introduced in 1973, replacing Purchase Tax, and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994.

VAT (Value Added Tax) is a tax added to most products and services sold by VAT-registered businesses. Businesses have to register for VAT if their VAT taxable turnover is more than £90,000.

Exports, sending goods abroad and charging VAT; Work out your place of supply of services for VAT rules

2020年9月24日 · Value added tax, or VAT, is the tax you have to pay when you buy goods or services. The standard rate of VAT in the UK is 20%, with about half the items households spend money on subject to...

What is the VAT rate UK? The UK has two VAT rates - a standard UK VAT rate of 20% and a reduced rate of 5%. Since leaving the European Union on January 1st, 2021, the UK is no longer subject to the EU VAT directive and now sets its own VAT rules and policies in full.

2024年4月25日 · Understanding the Value Added Tax (VAT) system in the UK is essential for businesses and individuals engaged in trade and services. This guide will cover the basics of VAT compliance, registration, and filing in the UK. Current VAT Rates in the UK: Reduced rates: 5% for certain goods and services such as children's car seats and home energy.

2024年11月7日 · VAT is a major revenue stream for the United Kingdom’s government, with VAT receipts totaling £160 billion in the 2022–2023 financial year. It also influences customer behavior: for instance, some goods are exempt or charged at a lower rate to make them more accessible.

2023年9月9日 · There are three main rates of VAT in the UK: Standard Rate (20%): Most goods and services fall under this rate. Reduced Rate (5%): Charged on specific goods and services, such as children’s car seats or home energy. Zero Rate (0%): Some items are zero-rated, meaning they’re still VAT-taxable but the rate is 0%.

2024年12月6日 · This guide provides an overview of VAT (Value Added Tax) in the United Kingdom, including applicable rates, registration requirements, invoicing rules, compliance obligations, and filing deadlines. It is intended for businesses engaging in transactions within the UK or with UK customers.