Value added tax (VAT) is a consumption tax that applies to most goods and services. It is classified as an indirect tax, meaning that while it is paid by consumers, it is collected and remitted to the ...
What is VAT and how does it work? VAT (Value Added Tax) is charged on most UK goods and services. VAT-registered businesses charge VAT on sales (output tax) and reclaim VAT on purchases (input tax).
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