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How VAT works The VAT Customer Service charge on things or taxable supplies like business sales when you sell goods and services, hiring or loaning goods to people, selling business assets, commission, items sold to staff of a company or establishment, business goods used for personal reasons, non-sales, such as bartering, part-exchange and gifts. The VAT-registered businesses have the responsibility to charge VAT on their goods and services and may reclaim any Vat they have paid on business-related goods or services. As a VAT-registered business, you have to report to the HM Revenue and HMRC the amount of VAT you’ve charged and the amount of VAT you paid through your VAT return. VAT Rates There are 3 different rates of VAT and make sure that the right amount is paid or charged, so you have to check on the rates offered by the VAT Customer Service. The Standard rate is most goods and services that is charged 20%. The VAT rate is reduced and can depend on the item being provided, but it is also the circumstance of the sale and the reduced rate is 5%. The zero rate means that the goods are still VAT-taxable, but the rate of VAT charged is 0%. Books, newspapers, children’s clothes, children’s shoes and motorcycle helmets are some of the items charged with 0% VAT rate by the VAT Customer Service. Reporting Fraud In some cases, where you know someone doing fraud on the VAT, you have to report this VAT fraud with the help of the VAT Customer Service. You have to let the HM Revenue and Customs know, if you think that some people are committing a VAT fraud, so that further investigations will be made by the VAT Customer Service. You just have to call the VAT Customer Service helpline at 0800 595 000, which is open 24 hours. For your safety, you do not need to mention your name or give your personal information, if you are reporting a VAT fraud. Other Information Rates of the VAT Customer Service can change and still, you must apply any changes to the rates from the date they were changed. For the zero rate, you still need to your transactions recorded in your VAT accounts and on your VAT Return it must be reported. As a VAT-registered business, you must know the right VAT rates, so that you can charge your customers correctly and reclaim it on your purchases. If you have paid the wrong amount of VAT on a purchase, you can’t claim back all of the amount paid. For more information about the VAT rates, you may visit their website at https://www.gov.uk/vat-rates.

VAT Complaints