Are Books Zero Rated Vat

Zero rating of books etc.

Are books zero rated vat. For example the printing of books is zero rated while the printing of newspapers is liable to vat at the second reduced rate. Food and drink. Zero rating books and printed matter vat notice 701 10 1.

The zero rating of e books which was originally planned to take effect from 1 december 2020 has been brought forward to today so that there is a reduced cost to access online publications at a time when many people are confined to their homes and schools and libraries are closed. Zero rating of books etc acrobat pdf 250kb 3 1 books and booklets these normally consist of text or illustrations bound in a cover stiffer than their pages. The retailers who sell zero rates goods can recover the vat on the costs that they incurred on any.

The vat act 1994 schedule 8 group 3 item 1 zero rates books booklets brochures pamphlets and leaflets the words in group 3 are used in their ordinary everyday sense. 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. They may be printed in any language or characters including braille or.

You still have to record them in your vat accounts and report them on your vat. Zero rated means that the goods are still vat taxable but the rate of vat you must charge your customers is 0. In the uk the normal vat on goods are 17 5 but since vat is a hidden tax there is no way to identify whether a good is zero rated or not.

The vat rate chargeable for printing depends on the publication product being printed. The format of the group 3 items. Goods exported outside the uk and the eu or sent to someone registered in an eu country are zero rated subject to conditions.

The following electronically supplied products are now eligible for the zero rate of vat. Sections 1 to 8 of this notice explains the nature of and the circumstances when you can zero rate books. This means they.