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STYLES & ASSOCIATES
ACCOUNTANCY SERVICES
Serving businesses in Alton, and throughout Hampshire
If your business is registered for VAT you have to charge VAT when you make taxable supplies. To calculate VAT charged or chargeable use our VAT calculators below.
Calculate the standard rate VAT paid on a gross value
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Calculate the standard rate VAT payable on a net value
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Note: These calculations are only for illustrative purposes and are not a substitute for professional advice.
Standard Rate VAT
The standard rate for VAT in the UK is currently 20% (as at May 2021), which was increased from 17.5% on 4 January 2011. December 2008 to December 2009 the rate was decreased to 15%, before being put back up to 17.5%.
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Reduced Rate
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There is a reduced rate of 5% on some goods and services such as children’s car seats and home energy.
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VAT Exempt
Some things like postage stamps, financial and property transactions are exempt from VAT.
VAT only needs to be charged on goods or services if certain conditions are met. For more information on what VAT is, how and when to register for VAT and information on submitting a VAT return visit our resource pages:
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