What is the UK VAT rate?

The standard rate of UK VAT is increased from 17.5% to 20%. The standard tax rate of 20% and the low tax rate of 7.5% apply to the standard tax rate of 20%: the estimated annual sales will exceed 230,000 pounds, and the low tax rate of 7.5% applies to the estimated annual sales not exceeding 6,543,800 pounds+0.5 thousand pounds.

Note: Enterprises applying low tax rate declaration are entitled to 1% in the first year when the tax number takes effect, and are declared at the low tax rate of 6.5% and at the low tax rate of 7.5% in the next year;

Enterprises reporting at low tax rate cannot deduct input tax; If the commodity cost is lower than 2% of the selling price, or higher than 2% of the selling price but lower than 1000 euros, it shall be declared at the tax rate of 16.5%.