Art and Antiques: A Beginner's Guide on Navigating VATs
You've likely heard of the term ‘VAT' before: conversations about supermarket prices, queries on deliveries, or complaints about the latest tax update.
However, not many people understand exactly what it means, making it harder to form the best decisions for you. In this straight-forward guide, we'll explain everything you'd ever need to know, from what VAT is, how it's used, and how you can use it to your advantage.
What exactly is VAT?
Most products and services have a Value Added Tax on them. When you purchase something that has a VAT, the price will automatically be calculated to contain the tax.
The added tax will not count toward the profit of the business selling it, but will instead go directly to the government.
Most products follow a standard VAT, set by the government and differing amongst countries. There is also a reduced VAT, or sometimes multiple, applying to certain goods that are deemed essential; the most common ones include medicine, heating, children's equipment, and fuel.
Reduced VAT can also be applied to popular items.
Finally, there are zero-rated items; items eligible for this category are considered essential, such as most food, newspapers, and charity services.
Differing VAT Rates:
It's important to know that these taxes can vary depending on the state, and the rules in place there.
- The air was noticeably cleaner and less polluted
- Decreased noise pollution allowed more wildlife to settle in
- More low emissions transportation was frequented
It was an opportunity to make an impact on the climate crisis for good.
Difference between "congestion charge" and ULEZ
The “Ultra Low Emissions Zone” is a more recent project, first set up in 2019, and built upon CCZ. Unlike the congestion charge, the ULEZ would operate 24/7, and the cost would be £12.50.
All vehicles that were not electric, produced 75g/km or less of CO2, or whose owners were exempt from charge, would have to pay both the CCZ and ULEZ fees.
The zone expansion in 2021 to cover many boroughs in Outer London saw 23,000 tonnes of CO2 saved and harmful NO2 levels 46% lower in the bustling roads of Central London.
The last extension that reached out to all the counties took place in 2023; that year marked the first recorded where the toxic concentration in the air didn't exceed the recommended level.
Social Impacts of CCZ
- The switch from cars and vans to bikes and walking has improved both physical and mental health. Studies witnessed 22.5% and 6.5% reductions in the number of health conditions and anxiety respectively.
- Dirty air was linked with many diseases, including dementia and prevention in the growth of children's lungs.
- It was estimated that before the introduction of CCZ, around 4,000 Londoners would die prematurely every year due to poor air quality.
- Less pedestrian and driver fatalities on main roads from traffic.
Economic Impacts of CCZ
- Prior to CCZ, it was inferred that an annual £4.9 billion was lost because of traffic jams, and consequent tardiness.
- Road blockage often is the lead cause of loss of working hours, which creates a decline in the country's economy.
- Additionally, energy and fuel and consumption decreased greatly too, with less cars, vans, and motorcycles travelling through London.
We at Prime Lane prioritise the delivery of your items, in top condition and for the cheapest prices.
We strive to use the most eco-friendly transport method available; for smaller shipments, we have electric vans and bikes, and for larger ones, they'll travel in a Euro 6 diesel van.
Find out more about how we get your packages to you: