The legislation does not provide a list of standard-rated supplies. Instead, it works by exception. The legislation lists zero-rated supplies (in VATA 1994, Sch. 8), reduced rate supplies (in VATA 1994, Sch. 7A) and exempt supplies (in VATA 1994, Sch. 9). Thus, any supplies not within these schedules but within the scope of VAT MUST be standard-rated (an example is goodwill).
Following the introduction of the 5p charge for plastic bags by retailers, HMRC have highlighted that such a charge is the consideration for a standard-rated supply (see HMRC Brief 14/15).
The standard rate
The standard rate is currently 20% (from 4 January 2011).