0
In the UK, the value-added tax (VAT) is a consumption tax, which is paid by the end consumer. In this sense, VAT is collected at every point in the production chain. As a consumption tax, VAT is considered to be a tax on the difference between the cost of production and the price at which the goods are sold. The VAT rate in the UK was set at 17.5% until 1973 when it was increased to 25%. The rate increased again to 15% in 1993. Hope this will help you. If you need any help regarding VAT, feel free to contact us visit: Proactive Consultancy Group
Or Call us at: +44 207 193 7072
What else can I help you with?
How much is VAT of machine in England?
It depends on what it is being charged on. The main VAT rate is 17.5% but the new Con-Dem Government is increasing it to 20% in January 2011.
UK Vat rate 1st June 2010?
17.5%
What is the current rate of VAT in the UK?
As from yesterday (Monday), the standard rate of VAT in the UK is 15% for 13 months (until the end of 2009). The 'normal' standard rate of VAT in the UK is 17.5%, but it has been reduced by 2.5% in an attempt to boost the economy. There are two additional VAT rates: 'Reduced' rate VAT 5% is for items such as gas and electricity Zero rate VAT is for 'essential' items - most food, baby clothing etc. so it was but as of 1st January 2011 the vat rose to 20% from last years 17.5%
How do you minus vat?
Work out 17.5% (current vat rate 2010) of the items price then minus the answer from the original price of the item
What is the rate of percentage of vat in UK?
The rate of VAT in the UK is 20%. The UK is one of the few countries that have a VAT, or Value Added Tax. This is a type of tax that is charged on the value of goods or services. It is a flat tax and applies to most goods and services in the UK. There are some exceptions to this, such as food, books, and children's clothes. If you need any help regarding VAT, we are happy to help you, Kindly visit our website: Proactive Consultancy Group - TPCGUK or Call us at: +44 207 193 7072
How do you calculate the vat from a final vat inclusive amount?
Divide the TOTAL by (1+the VAT rate) - this will give you the VAT exclusive price, then simply subtract that from the total price to get the VAT amount. For example...Say the retail price is 29.99 - Divide by 1.175 (current VAT rate)This gives 25.52 - subtract that from the original priceThus the VAT portion of the total price is 4.47
What does vatstand for and at what rate is it currently in the UK?
VAT stands for Value Added Tax (the equivalent of the usa sales tax) - and the current rate is 20%
Is there vat on paint?
In the UK VAT is charged on paint.
What is vat rate of calcium hypochlorite in maharashtra?
what is vat rate of calcium hypochlorite in maharashtra
What is the current rate of vat sales tax in west Bengal?
vat rate wooden furniture
What is the VAT rate for tin products in your country?
The VAT rate for tin products in my country is 20.
What are the 3 type of VAT?
You have standard rate VAT which is 20%, this covers mostly everything. You then have reduced rate VAT which is at 5%, this is normally for domestic fuel. Then there is zero rate VAT which is 0% and is for most food, childrens clothing etc.
