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VAT rates explained: standard, zero-rate & reduced rate.

In this short video, Iain Johnston, VAT Specialist at Martin Aitken & Co, provides an introduction to the different VAT rates: standard (20%), reduced rate (5%) and zero-rated (0%) and where they apply.

 

If you have any queries, or if you are unsure about any issues relating to VAT, you can get in touch with Iain directly by email This email address is being protected from spambots. You need JavaScript enabled to view it. or by giving him a call on 0141-272-0000.

 

What's covered in this video?Outlook icon

  • The different rates of VAT: 20% (standard); reduced rate (5%); and, zero-rated (0%).
  • Applying the right rate to ensure the correct VAT treatment.
  • Examples of overpayment of VAT.
  • The importance of reviewing your purchase ledger on a regular basis.

This is the third video in a series of six short VAT explained videos. >view all

 

 

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