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What do you mean by VAT return?

The VAT charged on sales to customers in the period – known as output tax. The VAT you’ve paid on your purchases known as input tax. If the amount of output tax is more than the input tax, then you send the difference to HMRC with your returns.

How much is VAT in the UK?

Work out how much VAT you paid on your purchases. Rates of VAT apply to different goods and services. There are currently three rates;
  • Standard 20%(increased from 17.5% on 4 January 2011)
  • Reduced Rate charged at 5%
  • Zero Rate

VAT Calculator

VAT Calculator | THIS IS MONEY

What is a Value Added Tax?

The VAT in the EU is a general, broadly based consumption tax assessed on the value added to goods and services. It applies more or less to all goods and services that are bought and sold for use or consumption in the Community.
Fore more information and help with your VAT call us today on 08000 886 129 or please fill out our contact Form.