AS Paper 1, June 2019Introduction to Markets and Market Failure
AS Paper 1, June 2019, Q4(a)
The amount of VAT paid per year from energy bills by an average household in 2016 was:
Multiple choice1 mark
Context
In 2016 the average energy bill per household was £1 070 per year, excluding VAT, an indirect tax charged at 5%.
A£53.50
B£214.00
C£1019.00
D£1123.50