ZERO RATED GOODS

Taxable products with a rate of 0% VAT.


This means it is included within the VAT Returns but no VAT is chargeable.

Often used to reflect items of necessity.

Below are some common examples of zero rated goods.

* Food items

* Sanitary products

* Children clothing

* Animal feed

* Prescription & medical equipment

* Water and more.

Goods that are zero rated are likely less expensive to purchase.

Zero rated goods are different to goods that are exempt.

Getting it wrong can be a costly mistake.

If unsure of how to manage and file VAT Returns, reach out: 

http://www.wallaceaccountancy.co.uk/contact 

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