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Technically, it is not VAT Free. It's rather that the rate of VAT is 0%. Effectively the same I know...
by eoin_murphy 15y ago
Technically, it is not VAT Free. It's rather that the rate of VAT is 0%.
Effectively the same I know...
- chalst 15y agoNot the same. Business that sell VAT 0% items (zero-rated items) can still deduct VAT on supplies, whilst providers of VAT exempt goods can't claim back VAT on supplies. For example, admission to a charitable event is VAT exempt in the UK, while goods sold at a charity shop are zero-rated. http://www.hmrc.gov.uk/vat/forms-rates/rates/goods-services.htm http://www.hmrc.gov.uk/vat/forms-rates/rates/goods-services....