The BPIF have teamed up with specialist Garbutt + Elliott to help you distinguish your VAT requirements.
Many, but not all, goods supplied by the print industry benefit from the zero-rate of VAT.
The main advantage of zero-rating, compared to VAT exemption, is that VAT on costs incurred for the purpose of making zero-rated supplies can be fully recovered as input tax.
Currently the UK VAT rules apply zero-rating to the following goods produced by paper, and similar materials such as card:
- Books, booklets, brochures, pamphlets and leaflets
- Newspapers, journals and periodicals
- Children’s picture books and painting books
- Music (printed, duplicated or manuscript)
- Maps, charts and topographical plans
- Covers, cases and other articles supplied with items 1 to 5 and not separately accounted for
With the exception of talking books for the blind and handicapped, which are subject to the zero-rate of VAT, the standard rate of VAT applies to goods containing text in other formats, for example cassette and CD ROM formats. The standard rate of VAT also applies to labels for any purpose and to plans for drawings for industrial, architectural, engineering, commercial or similar purposes.
- Capital Allowances Over 50% of commercial property owners have not made a capital allowances claim – are you one of them?
- Corporate Finance We are fully committed to managing the entire corporate finance deal process, minimising risks and ultimately getting the best deal for you.
- R&D Tax Credits The BPIF have teamed up with R&D Tax specialist Garbutt Elliott to help members identify and claim tax credits for any development work undertaken.
The BPIF is the printing industries champion. By becoming a member you join a diverse and influential community. We help you solve business problems, connect you to new customers and suppliers and make your voice heard in government.
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