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.

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.

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

Feb 4, 2014 · What qualifies and the VAT rate you charge depends on the type of goods or services you provide. No VAT is charged on goods or services that are: This guide to goods and services and their...

3 days ago · VAT (Value Added Tax) is one of those things most people deal with, yet few fully understand. Whether you’re running a business, freelancing, or simply managing your own finances, knowing how to calculate VAT properly is incredibly useful. One of the simplest ways to stay on top of your numbers is by using a vat calculator uk. It takes the ...

Sep 24, 2020 · 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 this...

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.

Apr 25, 2024 · Explore our comprehensive guide on VAT in the UK. Understand VAT rates, registration requirements, and filing processes to ensure compliance and optimize your business operations. Ideal for UK-based businesses and international traders.

Jan 31, 2025 · What is the UK VAT rate? Currently, the standard rate of VAT in the UK is 20%. This applies to all taxable goods and services that are not listed under a different rate. Is UK VAT always 20%? No, the UK Value Added Tax (VAT) is not always 20%.

Oct 15, 2023 · VAT is the UK’s third-largest source of tax revenue, after income tax and National Insurance. In the 2022-23 tax year, VAT is expected to raise £134.8 billion. Businesses must register for VAT if their taxable turnover exceeds £85,000.