Exempt supply | Practical Law

Exempt supply | Practical Law

Exempt supply

Exempt supply

Practical Law UK Glossary 1-107-6588 (Approx. 3 pages)

Glossary

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 on the exempt supplies but is unable to recover the VAT (Input tax) on those supplies which they have received and which are attributable to the exempt supplies. For further information, see Practice note, VAT: overview: Exempt supplies.