One of my clients asked me the other day if there is a simple guide to the rates of VAT applying to different goods and services. The best one I have seen is on the Business Link website (http://www.businesslink.gov.uk). It can be navigated from the Business Link home page by choosing the following menu options > Taxes, returns & payroll > VAT > VAT rates, thresholds, fuel scale charges, exchange rates > Rates of VAT on different goods and services.
The guide is very comprehensive.
It starts with a reminder that food and drink for human consumption is, in general, zero-rated but many items are standard-rated, including alcoholic drinks, confectionery, crisps and savoury snacks, food for catering or hot takeaways, ice cream, soft drinks and mineral water. Do you remember the Jaffa cake ruling?
The guide also gives the special rules applying to a number of services which I have listed below. Almost every service except for those shown below are standard-rates. Building and construction, land and property is fiendishly complicated (tax is really taxing here)
Services which may not be standard-rated
1/.Sport, leisure, culture and antiques
2/.Charities, welfare, health and education
3/.Power, utilities, energy and energy saving, heating
4/.Building and construction, land and property
5/.Transport, freight, travel and vehicles
6/.Printing, postage, publications - books, magazines and newspapers
7/.Clothing and footwear, protective and safety equipment
8/.Financial services and investments, insurance
Please contact me if I can be of further assistance.
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