The goods or services that are exempt from VAT are listed under various group headings within VATA 1994, Sch 9, Pt II.
It is important to remember that not all supplies that come within a heading will be exempt from VAT. For example, income from the placing of bets is consideration for an exempt supply under Group 4, but income generated by a fixed odds betting machine is standard rated.
There are 16 group headings within Schedule 9, which are listed below, along with the relevant guidance note giving further analysis about each heading.
For a video of Schedule 9, see the Schedule 9 鈥� exemptions video.
The grant of any interest in or right over land or of any licence to occupy land, In relation to land in Scotland, any personal right to call for or be granted any such interest or right.
The grant of the fee simple (freehold)
Foreign tax reliefIncome and gains may be taxable in more than one country. The UK has three ways of ensuring that the individual does not bear a double burden:1)treaty tax relief may reduce or eliminate the double tax2)if there is no treaty, the individual can claim 鈥榰nilateral鈥� relief by deducting
Inter-spouse transferIntroductionWhen a chargeable asset is transferred between two spouses or civil partners, there is a disposal by the transferor spouse / civil partner and an acquisition by the transferee spouse / civil partner for capital gains tax purposes. For simplicity, spouses and civil
Research and development (R&D) relief 鈥� overviewThis guidance note provides an overview of the research and development (R&D) tax reliefs for companies.See the Research and development tax relief summary diagram which summarises the R&D tax relief.See also Simon鈥檚 Taxes D1.401.For a factsheet which