exempt rating — noun A rating by which a business is exempted from charging or reclaiming VAT on the goods it supplies, the goods concerned being themselves exempted from VAT (see also ↑zero rating under ↑zero) • • • Main Entry: ↑exempt … Useful english dictionary
exempt supplies — plural noun Goods or services supplied by a business on which VAT is not allowed to be charged • • • Main Entry: ↑exempt … Useful english dictionary
VAT-free imports from the Channel Islands — Many low valued exports of goods from the Channel Islands to the United Kingdom are exempt from value added tax (VAT) due to the operation of an EU tax relief called Low Value Consignment Relief (LVCR). LVCR is not limited to the Channel Islands… … Wikipedia
VAT — See: value added tax Value Added Tax a tax that registered businesses charge when they supply their goods and services in the UK. VAT is also charged on goods, and some services, that are imported from places outside the European Union ( EU) and… … Financial and business terms
VAT — /ˌvi: eɪ ti:ˌ væt/ noun a tax on goods and services, added as a percentage to the invoiced sales price ● The invoice includes VAT at 17.5%. ● The government is proposing to increase VAT to 22%. ● Some items (such as books) are zero rated for VAT … Dictionary of banking and finance
VAT — abbr. Value Added Tax, Britain s form of sales tax. Prices quoted in British shops almost always include VAT but prices in catalogues, especially those mainly intended for products sold by one company to another company, often do not. The… … Dictionary of abbreviations
VAT — /ˌvi: eɪ ti:ˌ væt/ a tax on goods and services, added as a percentage to the invoiced sales price ● The invoice includes VAT at 17.5%. ● The government is proposing to increase VAT to 22%. ● Some items (such as books) are zero rated for VAT. Full … Marketing dictionary in english
exempt supplies — Supplies made by a business which are listed in Schedule 9 of the VAT Act 1994. VAT incurred in making exempt supplies is non recoverable, subject to the de minimis test. HM Customs & Revenue Glossary … Financial and business terms
exempt persons — Importers who are not registered for VAT or registered taxable persons who are reimporting goods other than in the course of their business. HM Customs & Revenue Glossary … Financial and business terms
exempt rating — /ɪg zempt ˌreɪtɪŋ/ noun the legal right of a business not to add VAT to the prices of some products or services … Marketing dictionary in english
exempt supplies — /ɪgˌzempt sə plaɪz/ plural noun products or services on which the supplier does not have to charge VAT … Marketing dictionary in english