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UK Money InformationUK Currency Basic InformationPhotographs of UK MoneyUK Currency Exchange UK Money InformationElsewhere on the Web"VAT"Definition: VAT is the tax payable on all goods and services in the UK, currently rated as 17.5%. On shop-bought goods the tax is included so you do not need to add it to the price displayed. If a bottle of water is priced at 70p then 70p is what you will pay the shopkeeper. For larger, more expensive purchases you may see the breakdown of goods/service price, then the VAT price, then the total payable. Also Known As: Value Added Tax Alternate Spellings: V.A.T. UK Money InformationUK Currency Basic InformationPhotographs of UK MoneyUK Currency Exchange UK Money InformationElsewhere on the Web |
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