what is uk vat rate 2023

what is uk vat rate 2023

1 year ago 67
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For 2023, the standard rate of VAT in the UK is 20%. This rate applies to most goods and services, unless they are classified as reduced or zero-rated. Reduced rates of VAT are charged at 5% and 9%, depending on the goods or services being supplied. Some items are also zero-rated for VAT purposes, such as books and newspapers, childrens clothes and shoes, and most goods exported from the UK to a country outside the EU and the UK. Its important to note that VAT rates may vary during the year, so its best to check with a tax expert or the government website for the most up-to-date information.

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