i am confused about all of this, if the company selling goods with VAT on them, will they not have paid VAT top their supplier at the higher rate? if so, how can they then sell them at a lower rate? surely it will take months for the saving to be passed on thru high street outlets. Or is VAT only added at POS?
(I know i should know this)
also, if goods are of foreign manufacture and imported, is VAT paid to the overseas supplier or just when the goods come onto the EU/UK? if so, when will the rate alter on imports?