Books Zero Rated Vat
Zero rated goods are products for which value added tax vat is not imposed.
Books zero rated vat. Notice 701 10 december 2011 download. Zero rated goods may include certain food items goods sold by charities equipment such as wheelchairs for the disabled medicine water books children s clothing etc. Books are zero rated but when he passes these costs to the customer as he is providing a service.
Printed matter liable at the zero rate the zero rate of vat applies to printed books and booklets including. The vat rate chargeable for printing depends on the publication product being printed. Items that are entitled to the vat zero rate.
Schedule 8 group 3 sets out books which may be zero rated as follows. They may be printed in any language or characters including braille or. For supplies of e publications made on or after 1 may 2020 see vbooks8490.
For example the printing of books is zero rated while the printing of newspapers is liable to vat at the second reduced rate. Alan pearce vat partner at the firm said. The zero rate of value added tax vat applies to certain goods and services including.
Books vat. The value added tax act 1994 section 30 provides for the zero rating of goods listed in schedule 8 to the act. The zero rating of e books is welcome at time when more people are reading on line but not all e publications will benefit say leading tax and advisory firm blick rothenberg.
The following electronically supplied products are now eligible for the zero rate of vat. The vat zero rate relief for books etc applies only to the hard copy physical supply of goods up to 1 may 2020. He main business is procurement so he buys goods to furnish a property and then charges commission on the value of the good.