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What are the different rates of VAT?

April 26, 2017different rates VAT

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What are the different rates of VAT?

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There are three rates of VAT – the standard rate at 17.5%, the reduced rate at 5% and the zero-rate. In addition items may also be exempt from VAT or outside the scope of the UK VAT system. There is a temporary reduction in the standard rate to 15% from 1st December 2008 to 31st December 2009.