VAT Payback and Clawback Rules: Implications of Changing Business Plans

VAT applies to taxable supplies made by a VAT-registered person, whether an individual or a company. VAT-exempt supplies in the UK are goods and services that are not subject to VAT at any rate, including the standard rate (20%), reduced rate (5%), or zero rate (0%). Businesses making only VAT-exempt supplies do not charge VAT

Learn More