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VAT rates in assessments and textbooks

Following the Darling changes in the standard rate of VAT, Osborne Books has been in touch with AAT and can confirm that the standard rate of VAT used in all assessments up to and including December 2009 will be 17.5%.

Osborne Books has also been in touch with OCR who have confirmed that the rate of VAT in assessments will not change from the rate normally stated in their papers; this is commonly 17.5%.

Osborne Books textbooks will therefore continue to use 17.5% as an exemplar standard rate of VAT until the end of 2009.

Please note, however, that students sitting assessments are strongly advised always to read the instructions about VAT rates (or any given tax or interest rates) in the introduction to the relevant paper.