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VAT rates for goods and services. The standard rate of VAT increased to 20% on 4 January 2011 (from 17.5%). Some things are exempt from VAT, eg postage stamps, financial and property transactions. The VAT rate businesses charge depends on their goods and services. Check the rates of VAT on different goods and services.
As you probably know, VAT is a consumption tax which is charged on consumers. The seller collects it from you on behalf of the government and is required to give it to the government soon thereafter.s you probably know, VAT is a consumption tax which is charged on consumers. The seller collects it from you on behalf of the government and is required to give it to the government soon thereafter.