Category Archives for Tax
My soap making example might then look like this: I buy my raw materials for £100 plus VAT at 17.5% giving a total of £117.50.
Let’s take the following example based on the usual rate of 17.5 per cent. I set up a business making homemade soaps. In order to do this I have to buy in raw materials from a wholesaler and I pay … Continue reading
A full list of items that are exempt from VAT can be found by contacting Customs and Excise. The following is an indication of items exempt from VAT. Where your business activity involves: