Define: Zero-Rated

UK Accounting Glossary

Definition: Zero-Rated


Quick Summary


Denoting goods on which the buyer pays no VAT although the seller can claim back any tax he/she has paid.



What is the dictionary definition of Zero-Rated?

Dictionary Definition



Full Definition


Denoting goods on which the buyer pays no VAT although the seller can claim back any tax he/she has paid.

These include some food items, newspapers, magazines and books, medicine and children’s clothing.


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