This ‘3 quick links’ post deals with today’s rise in VAT from 17.5% to 20% and what it means for you.
- BBC’s coverage on the VAT rise – including the impacts and how much it will cost you a year.
- VAT increase: shops could put up prices five to eight per cent – there are concerns that shops could use the VAT rise as a smokescreen for even larger price rises.
- A guide for the VAT-registered businesses – this is the HMRC’s official guide on the VAT rise for businesses. Not for the feint hearted but useful all the same.
Impact of VAT rise at a glance
Below is a neat bar chart showing the imapct of the VAT rise for various income groups.