Crosswords1 min ago
vat
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Please could someone tell what items have vat and items that don't have vat
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http://www.hmrc.gov.uk/vat/rates-goods.htm
Please appreciate the difference between goods that are 'Exempt' and goods that are 'zero-rated'. Exempt means there is no VAT chargeable at all on the goods or service. Zero-rated means there is, the rate just happens to be 0% just now.
http://www.hmrc.gov.uk/vat/rates-goods.htm
Please appreciate the difference between goods that are 'Exempt' and goods that are 'zero-rated'. Exempt means there is no VAT chargeable at all on the goods or service. Zero-rated means there is, the rate just happens to be 0% just now.
Basically most goods and services have VAT on them, although it's not straightforward. With things like food there are a lot of grey areas - items such as fish, meat, vegetables etc have no VAT on them because they're considered necessities. Luxury food such as cream cakes and (some) biscuits, crisps etc have 17.5% VAT on them. It's a bit complicated excatly what attracts VAT and why.