A charge added to most goods and services in the UK. The standard rate of VAT charged is currently 17.5%. However, the rate of VAT does sometimeschange so it is important that it is easy to change this in your spreadsheet.
Validation
The process of checking that the data entered is reasonable or one of the expected options, e.g. that a person's age has not been entered as 200.
Verification
The process of checking that the data entered is accurate. The data could be validbut still inaccurate, e.g. someone could enter their age as 81 when they are really 18.