Home: Category > Ecommerce

 
  Q: When did the UK increase VAT on shoes

  A: updated (02/02/2012)

The rate of VAT has swung to-and-fro for a number of years. The credit crunch / banking crisis of 2008 saw the Labour Government lower VAT from 17.5% - which is had been for over a decade - to 15%: so as to stipulate growth in the economy. The Conservative and Liberal Democrat parties formed a coalition government in May, 2010, and set about tackling the looming financial deficit of the UK government. One of the first decisions the coalition government made was to increase VAT to 20%: so as to generate more income to pay off the deficit. The VAT rate was changed to 20% on the 4th January 2011, and has remained at 20% to the present day (02/02/2012). Therefore, 20% is the rate of VAT on shoes (for adults) sold in the UK.

 
 

contact | submit question | terms of use

Copyright 2008-2012 shoesfaq.co.uk

 tumblr site counter