VAT – reduced rate

Everyone knows that the standard VAT rate is 20%, BUT are people as aware of the reduced 5% rate and even the exempt 0% rate? 

Tradesmen should especially take note of these rates when doing certain jobs.

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For example, did you know that if you are renovating or altering an empty house or flat, your work will be charged at the reduced 5% rate. 

If you are supplying or installing goods for a disabled person in their home, this will be classed as zero rated VAT.

 

 

For a full analysis of how the different VAT rates impact your business, contact us at Alexander’s and Co.

Call: 0203 355 8550
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