VAT Flashcards by Sean McDonagh | Brainscape

Q

What is VAT?

A

Value Added Tax

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What are the different rates?

A

Standard - 20%

Reduced - 5%

Zero - 0 %

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

How about for sustainable items regarding VAT?

A

Still pay VAT on sustainable items. Different rates payable. Zero rated on residential.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly