Know All About VAT Payment Deadline in the UK

Business

Source: Know All About VAT Payment Deadline in the UK

One of the key components of the numerous financial compliances that businesses must maintain in the UK is the submission of VAT returns and compliance with the VAT payment deadline. An indirect tax known as VAT (Value Added Tax) is gathered at every stage of the production and distribution of products and services. In the UK, the usual rate of VAT is 20%, with some goods and services subject to a lower rate of 5% or 0%.