VAT is not charged on the hammer price unless it is stated that there is 'VAT applicable on the hammer price at the end of the description.
The premium price is subject to VAT at the standard rate.
The buyer shall pay the hammer price together with a premium thereon of 26% up to £20,000 (31.2% inclusive of VAT), 25% from £20,001 - £500,000 (30% inclusive of VAT), 20% from £500,001 thereafter (24% inclusive of VAT).
