July 16th 09, 08:04 PM
posted to uk.transport.london,uk.railway,misc.transport.urban-transit
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First recorded activity at LondonBanter: Dec 2008
Posts: 2,008
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HS1 Domestic trains are a bit busy
"Steve Fitzgerald" ] wrote in message
In message , Recliner
writes
Public transport in the UK is subject to VAT but at 0%:-
http://www.hmrc.gov.uk/vat/start/introduction.htm
which also has a paragraph "The difference between exempt and
zero-rated" although some of our resident VAT-handlers might be able
to improve on the explanation as the HMRC page does not really say
much about those who might "buy" at 0% but then have to charge their
own customers at a non-zero rate.
The point is that the travel by train or plane has a zero VAT rate,
but the service I bill my customer for has a standard VAT rate
(currently 15%), regardless of the VAT rates on the inputs.
15%? Isn't VAT 17.5%?
No
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