Our VAT Accounts system is currently setup to support the below VAT Rates
| Rate Description | VAT Percentage | Rate Application |
|---|---|---|
| Standard VAT | 20% | Most goods and services |
| Reduced Rate | 5% | Some services, such as energy |
| Zero Rated | 0% | Zero-rated items, mainly food and books/publications |
| Exempt | (E) | Exempt goods and services |
| Out of Scope | (OS) | Out of Scope items |