VATupdate

UK considers cut on domestic energy reduced VAT rate from 5% to 0%

Chancellor under pressure to use post-Brexit VAT rate freedoms

The UK’s Chancellor, Rishi Sunak, is looking into moving the existing 5% reduced VAT rate on domestic gas and electricity to zero-rated. This would cost around 1.5b billion per annum if announced in the upcoming 27 October 2021 budget.

Source vatcalc

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