What is the rate of VAT?

There are three rates of VAT. The rate to be charged by the business is predetermined based on the item that is being sold or the service being offered. The rates are:

  • Standard rate at 20% - this applies to the majority of goods and services
  • Reduced rate at 5% - gas and electricity used in the home for example
  • Zero rate at 0%  - includes books and newspapers, children's clothing, public transport and most food (excluding meals-in and takeaways).

How do I calculate VAT? Use the attached document below to calculate gross to net and net to gross VAT amounts. To download a copy click on the button labelled Calculating VAT.xlsx. 

VAT calculator.xlsx

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