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Increase in the standard rate of VAT to 20 per cent

Posted on 3rd Jan 2011 @ 9:27 PM

 

The standard rate of VAT is currently 17.5 per cent but will increase to 20 per cent on 4 January 2011.

For any purchases from instockdirect.com of standard-rated goods or services made on or after 4 January 2011 you will be charged VAT at the 20 per cent rate. VAT (Value Added Tax) is defined by HMRC (Her Majestys Revenue & Customs) and is not in anyway determined by instockdirect.com. Every retailer will be affected by this change in exactly the same way and all VAT applicable goods will charged at this new rate of 20 per cent.

The change only applies to the standard VAT rate. There are no changes to sales of products which are zero-rated or reduced-rated for VAT.

The price of each product at instockdirect.com is displayed clearly on our website showing both pre-VAT and VAT inclusive pricing for your convenience. A VAT invoice can also be printed from your account for any order you may have placed at instockdirect.com detailing any VAT charged by instockdirect.com for your own records.