Exempt supply

A supply of goods or services falling within Schedule 9 to the Value Added Tax Act 1994. A person making exempt supplies is not required to account for output tax (www.practicallaw.com/A36594) on the exempt supplies but is unable to recover the VAT (www.practicallaw.com/5-107-7468) on those supplies which he has received and which are attributable to the exempt supplies.

For further information, see Practice note, Value added tax: Exempt supplies. (www.practicallaw.com/2-107-3725)
{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247245012994", "objName" : "Exempt supply", "userID" : "2", "objUrl" : "http://us.practicallaw.com/cs/Satellite/us/resource/1-107-6588?null", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "true", "analyticsPermCookie" : "2-3862cbc1:1475e30fb1d:-7d0b", "analyticsSessionCookie" : "2-3862cbc1:1475e30fb1d:-7d0a", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }