Things you need to know about VAT in the United Kingdom and Vat online services

Bookkeepingmonster01 Sep, 2020Finance

Value-added tax or in abbreviated form VAT is a consumption tax charged on goods and services. As these two components progress through the supply chain, the value of the goods and services increases on each step. Some countries of the world have converted VAT into GST. But, in the United Kingdom the system of VAT is still prevalent.