Value added tax

VAT is a tax on consumer expenditure. It is collected on business transactions, imports and acquisitions.

Most business transactions involve supplies of goods or services. VAT is payable if they are:

• supplies made in the United Kingdom (UK) or the Isle of Man
• by a taxable person
• in the course of a business and
• are not specifically exempted or zero-rated

Use the external links below for more information on VAT: